Mad Engine Global LLC's Senior Secured Term Loan Upsized To $310 Million; Issue Rating Affirmed (Recovery Rating: '4') - S&P Global Ratings’ Credit Research

Mad Engine Global LLC's Senior Secured Term Loan Upsized To $310 Million; Issue Rating Affirmed (Recovery Rating: '4')

Mad Engine Global LLC's Senior Secured Term Loan Upsized To $310 Million; Issue Rating Affirmed (Recovery Rating: '4') - S&P Global Ratings’ Credit Research
Mad Engine Global LLC's Senior Secured Term Loan Upsized To $310 Million; Issue Rating Affirmed (Recovery Rating: '4')
Published Dec 20, 2021
3 pages (1368 words) — Published Dec 20, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Dec. 20, 2021--S&P Global Ratings today affirmed its 'B' issue-level rating on Mad Engine Global LLC's senior secured term loan that has been upsized by $35 million to $310 million. We revised the senior secured debt recovery rating to '4' from '3', indicating our expectation for average (30%-50%; rounded estimate: 45%) recovery for lenders in the event of a payment default. The company intends to use the proceeds from the upsize to fund the acquisition of Fortune Screen Printing LLC (not rated) and repay a portion of the outstanding borrowings on its revolving credit facility. The lower recovery rating reflects lower recovery prospects for the term loan given the increase in claims relative to our

  
Report Type:

Ratings Action

Issuer
Mad Engine Global LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Mad Engine Global LLC's Senior Secured Term Loan Upsized To $310 Million; Issue Rating Affirmed (Recovery Rating: '4')" Dec 20, 2021. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Mad-Engine-Global-LLC-s-Senior-Secured-Term-Loan-Upsized-To-310-Million-Issue-Rating-Affirmed-Recovery-Rating-4-2773674>
  
APA:
S&P Global Ratings’ Credit Research. (). Mad Engine Global LLC's Senior Secured Term Loan Upsized To $310 Million; Issue Rating Affirmed (Recovery Rating: '4') Dec 20, 2021. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Mad-Engine-Global-LLC-s-Senior-Secured-Term-Loan-Upsized-To-310-Million-Issue-Rating-Affirmed-Recovery-Rating-4-2773674>
  
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