ENGLEWOOD (S&P Global Ratings) May 15, 2025--S&P Global Ratings today said that it withdrew its 'B-' issuer credit rating on Veregy Intermediate Inc. , following the company?s private refinancing, which repaid its outstanding debt facilities. At the same time, we discontinued our 'B-' issue-level rating and '3' recovery rating on Veregy?s first-lien debt because it repaid all of its rated debt facilities. At the time of withdrawal, our rating on Veregy had a positive outlook due to consistent EBITDA growth and deleveraging. The company?s performance was trending toward our ratings upgrade thresholds of leverage sustained under 5x and FOCF to debt above 5%. Criteria Corporates General: Sector-Specific Corporate Methodology , April 4, 2024 Criteria Corporates General: Methodology:
