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Fitch assigns NielsenIQ B+, loans BB
Fitch Ratings said it assigned first-time long-term issuer default ratings of B+ to Intermediate Dutch Holdings (NielsenIQ) and its associated subsidiaries Indy US Bidco, LLC and Indy Dutch Bidco BV.
Fitch also gave a BB/RR2 senior first-lien secured rating to the proposed $1.6 billion term loan B and to the planned $350 million revolving credit facility.
“The ratings and outlook reflect NielsenIQ's conservative leverage profile opening with total debt with equity credit/operating EBITDA of approximately 4.2x, relative to the B rating category and principal-rated peer IRI Holdings, Inc. (B/stable), balanced with its historical competitive challenges and weak margins,” the agency said in a press release.
The outlook is stable.
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