STOCKHOLM (S&P Global Ratings) May 13, 2019--S&P Global Ratings today said that the proposed €200 million add-on to Verisure Holding AB's senior secured notes due in May 2023 will not significantly affect the company's leverage in 2019, or affect recovery prospects for creditors in the event of a payment default. As such, there is no impact on the ratings or outlook on security services provider Verisure Midholding AB (B/Stable/--), parent of Verisure Holding. We understand Verisure will use the proceeds from the issuance to refinance drawings on its revolving credit facility (RCF), and use the remainder for general corporate purposes. Although the additional €200 million will slightly increase our projected leverage for Verisure to about 7.0x in 2019, from about
