Verizon authorized retailer Go Wireless Holdings Inc.'s proposed first-lien term loan has been downsized to $300 million from $400 million. The company will use proceeds from the term loan to refinance existing debt and to pay a special dividend to shareholders. We are affirming our 'B' corporate credit rating on Go Wireless. At the same time, we are raising our issue-level rating to 'B+' from 'B' based on the downsize. We also revised the recovery rating to '2' from '3'. The stable outlook reflects our expectation for adjusted debt to EBITDA to approach the mid- to high-4.0x area over the next 12 months upon EBITDA base expansion through acquisitions. On Dec. 20, 2017, S&P Global Ratings affirmed its 'B' corporate
