UKG Inc. (Formerly The Ultimate Software Group Inc.) First-Lien Debt Rating Lowered To 'B-' On Repricing And Upsizing - S&P Global Ratings’ Credit Research

UKG Inc. (Formerly The Ultimate Software Group Inc.) First-Lien Debt Rating Lowered To 'B-' On Repricing And Upsizing

UKG Inc. (Formerly The Ultimate Software Group Inc.) First-Lien Debt Rating Lowered To 'B-' On Repricing And Upsizing - S&P Global Ratings’ Credit Research
UKG Inc. (Formerly The Ultimate Software Group Inc.) First-Lien Debt Rating Lowered To 'B-' On Repricing And Upsizing
Published Jan 15, 2021
3 pages (1441 words) — Published Jan 15, 2021
Price US$ 150.00  |  Buy this Report Now

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Abstract:

SAN FRANCISCO (S&P Global Ratings) Jan 15, 2021--S&P Global Ratings today revised its recovery rating to '3' from '2' on Weston, Fla.-based UKG Inc.'s first-lien debt (term loan and revolving credit facility). The '3' recovery rating indicates our expectation of meaningful (50%-70%; rounded estimate: 65%) recovery for lenders in the event of a payment default. At the same time, we lowered our rating on the first-lien debt to 'B-' from 'B' in accordance with our notching criteria for a '3' recovery rating. We also affirmed our ratings on the second-lien debt. All of our other ratings on UKG are unchanged. The rating actions reflect our view of UKG's plan to increase the amount of its non-fungible first-lien term loan (in

  
Report Type:

Ratings Action

Ticker
ULTI
Issuer
UKG Inc.
GICS
Application Software (45103010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "UKG Inc. (Formerly The Ultimate Software Group Inc.) First-Lien Debt Rating Lowered To 'B-' On Repricing And Upsizing" Jan 15, 2021. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/UKG-Inc-Formerly-The-Ultimate-Software-Group-Inc-First-Lien-Debt-Rating-Lowered-To-B-On-Repricing-And-Upsizing-2580693>
  
APA:
S&P Global Ratings’ Credit Research. (). UKG Inc. (Formerly The Ultimate Software Group Inc.) First-Lien Debt Rating Lowered To 'B-' On Repricing And Upsizing Jan 15, 2021. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/UKG-Inc-Formerly-The-Ultimate-Software-Group-Inc-First-Lien-Debt-Rating-Lowered-To-B-On-Repricing-And-Upsizing-2580693>
  
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