Research Update: Mirion Technologies Inc. Ratings Placed On CreditWatch Positive On Potential Acquisition And Debt Reduction

Mirion Technologies Inc. has announced its intention to combine with GS Acquisition Holdings Corp. II (GSAH II), a special purpose acquisition company, in a cash- and equity-funded transaction. We placed our ratings, including our 'B' long-term issuer credit rating, on Mirion on CreditWatch with positive implications. The CreditWatch placement reflects our view that Mirion's credit profile may improve with the anticipated debt reduction associated with the transaction. We expect to resolve the CreditWatch after the transaction closes, which we believe will be in fourth-quarter 2021. The transaction is subject to closing conditions, including regulatory approvals and approvals by GSAH II shareholders. We could raise the issuer credit rating by one notch to 'B+' upon completion of the transaction if the

...- Mirion Technologies Inc. has announced its intention to combine with GS Acquisition Holdings Corp. II (GSAH II), a special purpose acquisition company, in a cash- and equity-funded transaction. - We placed our ratings, including our 'B' long-term issuer credit rating, on Mirion on CreditWatch with positive implications. - The CreditWatch placement reflects our view that Mirion's credit profile may improve with the anticipated debt reduction associated with the transaction. - We expect to resolve the CreditWatch after the transaction closes, which we believe will be in fourth-quarter 2021. The transaction is subject to closing conditions, including regulatory approvals and approvals by GSAH II shareholders. We could raise the issuer credit rating by one notch to 'B+' upon completion of the transaction if the company has repaid some debt and we deem financial policies as supportive of lower leverage....

Research Update