Research Update: Inmar Inc.'s First-Lien Facilities Rated 'B', Second-Lien Loan Rated 'CCC+'; Corporate Rating Affirmed; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Inmar Inc.'s First-Lien Facilities Rated 'B', Second-Lien Loan Rated 'CCC+'; Corporate Rating Affirmed; Outlook Stable

Research Update: Inmar Inc.'s First-Lien Facilities Rated 'B', Second-Lien Loan Rated 'CCC+'; Corporate Rating Affirmed; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Inmar Inc.'s First-Lien Facilities Rated 'B', Second-Lien Loan Rated 'CCC+'; Corporate Rating Affirmed; Outlook Stable
Published Apr 07, 2017
9 pages (3055 words) — Published Apr 07, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

OMERS Private Equity has announced it will acquire a controlling stake in U.S.-based Inmar Inc. from current sponsor ABRY Partners. The new capital structure includes $655 million of first-lien credit facilities--which consist of a $75 million revolving credit facility due in 2022 and a $580 million first-lien term loan due in 2024--and a $175 million second-lien term loan due in 2025. We estimate adjusted debt to EBITDA will weaken to around 7x from 5.5x pro forma for the transaction. However, we believe credit ratios will improve thereafter as the company applies free cash flow toward debt reduction. We are affirming our 'B' corporate credit rating on Inmar Inc. At the same time, we are assigning our 'B' issue-level rating to

  
Brief Excerpt:

...OMERS Private Equity has announced it will acquire a controlling stake in U.S.-based Inmar Inc. from current sponsor ABRY Partners....

  
Report Type:

Research Update

Ticker
926474Z
Issuer
Inmar Inc.
GICS
Internet Software & Services (45101010)
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: Inmar Inc.'s First-Lien Facilities Rated 'B', Second-Lien Loan Rated 'CCC+'; Corporate Rating Affirmed; Outlook Stable" Apr 07, 2017. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Inmar-Inc-s-First-Lien-Facilities-Rated-B-Second-Lien-Loan-Rated-CCC-Corporate-Rating-Affirmed-Outlook-Stable-1828647>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Inmar Inc.'s First-Lien Facilities Rated 'B', Second-Lien Loan Rated 'CCC+'; Corporate Rating Affirmed; Outlook Stable Apr 07, 2017. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Inmar-Inc-s-First-Lien-Facilities-Rated-B-Second-Lien-Loan-Rated-CCC-Corporate-Rating-Affirmed-Outlook-Stable-1828647>
  
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