NEWAsurion Corp. and Subsidiaries? Leverage Remains Within Expectations Following Proposed Debt Issuances - S&P Global Ratings’ Credit Research

NEWAsurion Corp. and Subsidiaries? Leverage Remains Within Expectations Following Proposed Debt Issuances

NEWAsurion Corp. and Subsidiaries? Leverage Remains Within Expectations Following Proposed Debt Issuances - S&P Global Ratings’ Credit Research
NEWAsurion Corp. and Subsidiaries? Leverage Remains Within Expectations Following Proposed Debt Issuances
Published Jul 07, 2021
3 pages (1774 words) — Published Jul 07, 2021
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) July 7, 2021--S&P Global Ratings said today that it assigned its 'B' debt rating to NEWAsurion Corp. and subsidiaries' proposed $2.8 billion second-lien term loan B-4 due 2029, with a '5' recovery rating, indicating our expectation of modest recovery (10%) in the event of payment default. The company is also issuing a fungible $500 million add-on to its existing $1.5 billion first lien term loan B-9 due 2027. Ratings on the first lien term loan B-9 remain unchanged at 'B+' with a recovery rating of '3(65%)', indicating our expectation of meaningful recovery in the event of payment default. We also rate the revolver and existing first-lien term loans B-6, B-7, and B-8 'B+' with a

  
Report Type:

Ratings Action

Issuer
Asurion LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "NEWAsurion Corp. and Subsidiaries? Leverage Remains Within Expectations Following Proposed Debt Issuances" Jul 07, 2021. Alacra Store. May 02, 2025. <http://www.alacrastore.com/s-and-p-credit-research/NEWAsurion-Corp-and-Subsidiaries-Leverage-Remains-Within-Expectations-Following-Proposed-Debt-Issuances-2684214>
  
APA:
S&P Global Ratings’ Credit Research. (). NEWAsurion Corp. and Subsidiaries? Leverage Remains Within Expectations Following Proposed Debt Issuances Jul 07, 2021. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/NEWAsurion-Corp-and-Subsidiaries-Leverage-Remains-Within-Expectations-Following-Proposed-Debt-Issuances-2684214>
  
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