...NEW YORK (S&P Global Ratings) July 27, 2016--S&P Global Ratings today assigned its '###+' issue-level rating and '6' recovery rating to UFC Holdings LLC's proposed $500 million second-lien senior secured term loan due 2024. The '6' recovery rating indicates our expectation for negligible recovery (0%-10%) of principal for lenders in a simulated payment default. The '###+' rating is two notches below our 'B' corporate credit rating on UFC. The proceeds from the second-lien term loan and the proposed $1.3 billion first-lien term loan, plus $400 million in planned preferred equity to be issued at UFC's intermediate parent company (which we view as a debt-like obligation) and about $1.75 billion in equity contributions, will be used to fund the acquisition of UFC. UFC and its UFC-branded and related business operations are being acquired for $4 billion by a consortium of investors led by U.S. sports, media, and entertainment company WME IMG. Our 'B' corporate credit rating and negative rating...
