S&P rates Mars Intermediate B

S&P said it gave B ratings to Mars Intermediate LLC and its planned senior secured credit facilities that include a $1.25 billion seven-year first-lien term loan and a $150 million five-year revolver. The recovery rating is 3.

Mars will be composed of Blackstone Group Inc.’s Liftoff Mobile Inc. and Vungle Inc. The deal is expected to close by the end of the month.

“We assigned our B issuer credit rating to the combined merged company, Mars Intermediate LLC. This is one notch lower than our current ratings on Liftoff and Vungle. The lower rating is due to our view of the financial policy in light of the planned large debt-financed dividend,” S&P said in a press release.

The outlook is stable.

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