Vertiv Group Corp. Upgraded To 'B+', Outlook Stable: Proposed Debt Rated 'B+' - S&P Global Ratings’ Credit Research

Vertiv Group Corp. Upgraded To 'B+', Outlook Stable: Proposed Debt Rated 'B+'

Vertiv Group Corp. Upgraded To 'B+', Outlook Stable: Proposed Debt Rated 'B+' - S&P Global Ratings’ Credit Research
Vertiv Group Corp. Upgraded To 'B+', Outlook Stable: Proposed Debt Rated 'B+'
Published Jan 31, 2020
3 pages (1616 words) — Published Jan 31, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

We believe it is highly likely that special purpose acquisition company (SPAC) GS Acquisition Holdings Corp. (GSAH) will acquire digital infrastructure products company Vertiv Holdings LLC and its subsidiary Vertiv Group Corp. early next month per the previously announced terms and will repay a significant portion of the firm's debt. The company is issuing a new $2.2 billion term loan in order to refinance the remaining debt. We are raising the issuer credit rating on Vertiv to 'B+' and removing all ratings from CreditWatch positive. We are assigning our 'B+' issue-level rating and '3' recovery rating to the proposed term loan. The recovery ratings on the existing debt issues are unchanged. The stable outlook reflects our view that Vertiv's ownership

  
Brief Excerpt:

...January 31, 2020 - We believe it is highly likely that special purpose acquisition company (SPAC) GS Acquisition Holdings Corp. (GSAH) will acquire digital infrastructure products company Vertiv Holdings LLC and its subsidiary Vertiv Group Corp. early next month per the previously announced terms and will repay a significant portion of the firm's debt. - The company is issuing a new $2.2 billion term loan in order to refinance the remaining debt. - We are raising the issuer credit rating on Vertiv to 'B+' and removing all ratings from CreditWatch positive. - We are assigning our 'B+' issue-level rating and '3' recovery rating to the proposed term loan. - The recovery ratings on the existing debt issues are unchanged. - The stable outlook reflects our view that Vertiv's ownership and management will keep credit measures appropriate for the ratings and will not add a significant amount of debt to the company's capital structure during the next year. NEW YORK (S&P Global Ratings) Jan. 31,...

  
Report Type:

Ratings Action

Ticker
1440030D
Issuer
Vertiv Group Corp.
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Vertiv Group Corp. Upgraded To 'B+', Outlook Stable: Proposed Debt Rated 'B+'" Jan 31, 2020. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Vertiv-Group-Corp-Upgraded-To-B-Outlook-Stable-Proposed-Debt-Rated-B-2376263>
  
APA:
S&P Global Ratings’ Credit Research. (). Vertiv Group Corp. Upgraded To 'B+', Outlook Stable: Proposed Debt Rated 'B+' Jan 31, 2020. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Vertiv-Group-Corp-Upgraded-To-B-Outlook-Stable-Proposed-Debt-Rated-B-2376263>
  
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