NEW YORK (S&P Global Ratings) Dec. 9, 2021--S&P Global Ratings today affirmed its 'B+' issue-level rating on Shawnee, Okla.-based internet and cable TV provider Mega Broadband Investments Intermediate I LLC's (d/b/a Vyve Broadband) senior secured first-lien debt following the company's proposed $155 million add-on to its $650 million term loan B due 2027. At the same time, we revised the recovery rating on the company's secured debt to '4' from '3'. The '4' recovery rating indicates our expectation of average (30%-50%; rounded estimate: 45%) recovery in the event of a payment default. We expect the company to use the proceeds from the term loan add-on to fund a $150 million dividend to its existing shareholders and pay down $5 million
