...- Tempo Acquisition LLC (dba Alight Solutions) completed the sale of its professional services and human capital management and payroll outsourcing business to an affiliate of H.I.G. Capital with a transaction value of $1.2 billion. - The company used transaction proceeds to repay $740 million of debt, which strengthens its S&P Global Ratings-adjusted credit metrics. - As a result, we upgraded all our ratings on Alight, including our issuer credit ratings to '##-' and our issue-level ratings to '##'. We removed all ratings from CreditWatch, where we placed them with positive implications on March 21, 2024. - The stable outlook reflects our expectation for margin improvement and solid free operating cash flows (FOCF) from the remaining business as well as benefits from the cloud restructuring program, which will bring debt to EBITDA below 5x in 2025....
