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| Prospect News home > News index > List of issuers H > Headlines for HLF Financing Sarl, LLC > News item |
S&P gives B+ to HLF loan
S&P said it assigned B+ issue-level and 2 recovery ratings to HLF Financing Sarl LLC’s new $500 million term loan. The 2 recovery rating indicates substantial recovery (70%-90%; rounded estimate: 70%) in default. Concurrently, the agency placed the rating on CreditWatch with negative implications.
The B issue-level rating on the senior unsecured debt is unchanged with a 4 recovery rating (30%-50%; rounded estimate: 35%).
HLF is the financing unit of Herbalife Ltd. Herbalife intends to use the loan to repay its outstanding 2025 term loan, rated BB- with a 1 (90%) recovery rating, revolver, and $300 million of its $600 million senior unsecured notes due Sept. 1, 2025.
All other ratings remain on negative watch where they were placed on March 20.
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