Bulletin: Vertiv Group Corp.'s Proposed Refinancing Could Reduce Its Annual Interest Expense By Roughly $5.5 Million - S&P Global Ratings’ Credit Research

Bulletin: Vertiv Group Corp.'s Proposed Refinancing Could Reduce Its Annual Interest Expense By Roughly $5.5 Million

Bulletin: Vertiv Group Corp.'s Proposed Refinancing Could Reduce Its Annual Interest Expense By Roughly $5.5 Million - S&P Global Ratings’ Credit Research
Bulletin: Vertiv Group Corp.'s Proposed Refinancing Could Reduce Its Annual Interest Expense By Roughly $5.5 Million
Published Feb 25, 2021
3 pages (1498 words) — Published Feb 25, 2021
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Abstract:

NEW YORK (S&P Global Ratings) Feb. 25, 2021--S&P Global Ratings today said that its 'B+' issue-level rating and '3' recovery rating on Vertiv Group Corp.'s (B+/Stable/--) senior secured term loan remain unchanged pro forma for its proposed repricing. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. Vertiv Group Corp. is the debt-issuing subsidiary of Columbus, Ohio-based Vertiv Holdings Co., which is a provider of hardware, software, and services to data centers and institutions globally. The company is amending its credit facility and seeking to lower the applicable margin on its debt by at least 25 basis points, which we estimate would save it roughly $5.5 million in

  
Report Type:

Bulletin

Ticker
1440030D
Issuer
Vertiv Group Corp.
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Vertiv Group Corp.'s Proposed Refinancing Could Reduce Its Annual Interest Expense By Roughly $5.5 Million" Feb 25, 2021. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Vertiv-Group-Corp-s-Proposed-Refinancing-Could-Reduce-Its-Annual-Interest-Expense-By-Roughly-5-5-Million-2601929>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Vertiv Group Corp.'s Proposed Refinancing Could Reduce Its Annual Interest Expense By Roughly $5.5 Million Feb 25, 2021. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Vertiv-Group-Corp-s-Proposed-Refinancing-Could-Reduce-Its-Annual-Interest-Expense-By-Roughly-5-5-Million-2601929>
  
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