Go Wireless Holdings Inc. Assigned 'B' Corporate Credit Rating, Stable Outlook; Term Loan Rated 'B' (Recovery: '3')

Verizon authorized retailer Go Wireless Holdings Inc. plans to issue a new $400 million first-lien term loan to refinance its existing debt and to pay a special dividend to shareholders. We are assigning our 'B' corporate credit rating to Go Wireless. At the same time, we are assigning our 'B' issue-level rating with a '3' recovery rating to the proposed $400 million first-lien term loan. The stable outlook reflects our expectation for adjusted debt to EBITDA to approach 5.0x over the next 12 months upon EBITDA base expansion through its acquisition strategy. NEW YORK (S&P Global Ratings) Dec. 12, 2017--S&P Global Ratings today assigned its 'B' corporate credit rating to Las Vegas-based Verizon authorized retailer Go Wireless Holdings Inc. The

...+ Verizon authorized retailer Go Wireless Holdings Inc. plans to issue a new $400 million first-lien term loan to refinance its existing debt and to pay a special dividend to shareholders. + We are assigning our 'B' corporate credit rating to Go Wireless. At the same time, we are assigning our 'B' issue-level rating with a '3' recovery rating to the proposed $400 million first-lien term loan. + The stable outlook reflects our expectation for adjusted debt to EBITDA to approach 5.0x over the next 12 months upon EBITDA base expansion through its acquisition strategy. NEW YORK (S&P Global Ratings) Dec. 12, 2017--S&P Global Ratings today assigned its 'B' corporate credit rating to Las Vegas-based Verizon authorized retailer Go Wireless Holdings Inc. The outlook is stable. At the same time, we assigned our 'B' issue-level rating and '3' recovery rating to Go Wireless' proposed $400 million first-lien term loan due 2024. The '3' recovery rating indicates our expectation for meaningful (50%-70%,...

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