S&P rates SRAM facility BB-

S&P said it rated SRAM LLC’s planned $1.1 billion term loan B facility due 2028 and $100 million revolving credit facility due 2026 BB- with a 3 recovery rating.

SRAM plans to use the term loan proceeds to refinance its term loan B and to deliver a $750 million dividend.

Concurrently, the agency said it affirmed SRAM’s BB- rating because it expects leverage to comfortably remain under its 4x downgraded threshold in 2021.

The outlook remains stable.

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