Standard&Poor's Ratings Services' 'B' ratings on Lonestar Intermediate Super Holdings LLC (Lonestar, a wholly owned subsidiary of NEWAsurion Corp.) and Asurion LLC is derived from our anchor of 'b+' based on our satisfactory business risk and highly leveraged financial risk profile assessments for the company. However, we apply an unfavorable comparative ratings analysis adjustment that lowers the rating by one notch from the anchor. This is based on our view that NEWAsurion's financial risk profile is at the lower end its category. Even though its current credit metrics are consistent with a highly leveraged financial risk profile, the leverage could increase, resulting in credit metrics that are more volatile than we expect. The stable outlook reflects our view
