AccentCare term loan unchanged with ratings cuts; Banijay accelerates deadline

By Sara Rosenberg

New York, April 4 – In the secondary market on Tuesday, AccentCare’s (Pluto Acquisition I Inc.) first-lien term loan held steady following news of ratings downgrades by Moody’s Investors Service.

AccentCare’s first-lien term loan was quoted at 70½ bid, 72 offered on Tuesday, in line with Monday’s levels, following a late Monday downgrades announcement by Moody’s Investors Services, according to a trader.

The term loan was also quoted at 70½ bid, 72 offered on Friday, the trader remarked, adding that the expectation for downgrades was likely already priced into the debt being that it’s trading in the low-70s context.

Meanwhile, in the primary market, Banijay moved up the commitment deadline for its U.S. and euro term loan B, and Nautilus Power LLC approached lenders with an amended and extended term loan B.

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