Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for McAfee Corp. > News item |
S&P slices, rates McAfee loans B-
S&P said it lowered McAfee Corp.’s issuer rating to B- from BB and assigned B- issue-level and 3 recovery ratings to the firm's new first-lien credit facility, consisting of a $1 billion revolver, $4.41 billion term loan and $1.25 billion euro-denominated term loan.
McAfee agreed to be acquired by an investor group advised and funded by Advent International Corp. and Permira Advisers LLC for an enterprise value of about $14 billion.
The downgrade reflects a forecasted increase in leverage to more than 10x, the agency explained.
The outlook is stable.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.