Research Update: Asurion Group First-Lien Debt Upgraded To 'BB-'; Issuer Credit Ratings Affirmed At 'B+'; Outlook Remains Stable - S&P Global Ratings’ Credit Research

Research Update: Asurion Group First-Lien Debt Upgraded To 'BB-'; Issuer Credit Ratings Affirmed At 'B+'; Outlook Remains Stable

Research Update: Asurion Group First-Lien Debt Upgraded To 'BB-'; Issuer Credit Ratings Affirmed At 'B+'; Outlook Remains Stable - S&P Global Ratings’ Credit Research
Research Update: Asurion Group First-Lien Debt Upgraded To 'BB-'; Issuer Credit Ratings Affirmed At 'B+'; Outlook Remains Stable
Published May 21, 2025
Published May 21, 2025
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Asurion Group Inc. (Asurion)'s first-lien recovery has continued to strengthen via debt reduction and a greater weighting toward U.S. earnings. We revised up the recovery rating on subsidiary Asurion LLC's first-lien senior secured debt to '2' (70%) from '3' (65%) and as a result raised our issue rating on the debt to 'BB-' from 'B+'. We also affirmed the 'B+' long-term issuer credit ratings on Asurion and 'B' issue rating on the second-lien senior secured debt; the '5' (20%) recovery rating on the second lien debt is unchanged. The stable outlook on Asurion reflects our expectation that it will maintain its dominant presence in the mobile protection industry and sustain credit metrics that support the rating. In contrast with U.S.

  
Report Type:

Research Update

Issuer
Asurion Group Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Asurion Group First-Lien Debt Upgraded To 'BB-'; Issuer Credit Ratings Affirmed At 'B+'; Outlook Remains Stable" May 21, 2025. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Asurion-Group-First-Lien-Debt-Upgraded-To-BB-Issuer-Credit-Ratings-Affirmed-At-B-Outlook-Remains-Stable-3374371>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Asurion Group First-Lien Debt Upgraded To 'BB-'; Issuer Credit Ratings Affirmed At 'B+'; Outlook Remains Stable May 21, 2025. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Asurion-Group-First-Lien-Debt-Upgraded-To-BB-Issuer-Credit-Ratings-Affirmed-At-B-Outlook-Remains-Stable-3374371>
  
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