NEW YORK (S&P Global Ratings) Oct. 20, 2023--S&P Global Ratings assigned its 'BB-' issue-level rating to Tempo Acquisition LLC's (Alight Solutions) new term loan B in a refinancing transaction. This does not materially change the terms of the $2.5 billion loan but improves pricing by 25 basis points. Our recovery rating of '2' (rounded estimate: 70%) is therefore unchanged. We continue to forecast adjusted leverage will decline below 6x by year-end 2023. For a more detailed credit rating rationale, see our most recent research update on Tempo Acquisition, published May 30, 2023, on RatingsDirect. General Criteria: Environmental, Social, And Governance Principles In Credit Ratings, Oct. 10, 2021 General Criteria: Group Rating Methodology, July 1, 2019 Criteria Corporates General:
