...NEW YORK (S&P Global Ratings) March 6, 2018--S&P Global Ratings today assigned a 'B' issue-level rating to LSCS Holdings Inc.'s proposed $50 million first-lien delayed-draw term loan and a '###+' issue-level rating to the company's $20 million second-lien delayed-draw term loan. The recovery rating on the first-lien debt is '3', indicating expectations for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a default. The recovery rating on the second-lien debt is '6', indicating expectations for negligible (0%-10%; rounded estimate: 0%) recovery in the event of a default. The 'B' issue-level rating and '3' recovery rating on LSCS Holdings Inc.'s first-lien credit facility is unchanged following the company's proposed delayed-draw and the proposed $40 million add-on to its existing first-lien term loan. The '3' recovery ratings on the first-lien credit facility, which now consists of $25 million revolver and $200 million term loan, indicates expectations for meaningful...
