NEW YORK (S&P Global Ratings) June 9, 2020--S&P Global Ratings assigned its 'B' issue-level rating and '3' recovery rating to the proposed incremental first-lien term loan of $150 million to be issued by UFC Holdings LLC. The proposed term loan is pari passu with the existing first-lien term loans, with the same maturity and interest spread. UFC also plans to upsize the revolving credit facility commitment to $212.75 million from $162.75 million. The issue-level rating on the existing first-lien debt remains 'B' with a '3' recovery rating. UFC intends to use the proceeds to repay $150 million in outstanding balances drawn under the revolving credit facility. The incremental debt modestly lowers recovery prospects for first-lien lenders in a hypothetical default
