U.S.-based LSF9 Atlantis Holdings LLC (doing business as Victra) is issuing $600 million of debt to finance its acquisition of Go Wireless Holdings Inc., the fifth-largest exclusive retailer for Verizon. We assigned our 'B' issuer credit rating to LSF9 Atlantis Holdings LLC. We also assigned our 'B' issue-level rating and '3' recovery rating to the company's proposed $600 million first-lien term loan. Concurrently, we affirmed our 'B' issue-level rating on the company's senior secured notes and revised the recovery rating to '3' from '4'. The stable outlook reflects our expectation for steady operating performance as the company integrates Go Wireless while maintaining S&P Global Ratings-adjusted leverage in the mid-to-high 4x area. The stable outlook reflects our expectation for steady operating
