S&P rates Colibri Group loan B-

S&P said it rated the planned $645 million first-lien term and $50 million revolver of McKissock Investment Holdings LLC (Colibri Group) B- with a 3 recovery rating (50%). The agency also affirmed Colibri’s B- issuer rating.

On June 3, the agency assigned B- ratings to the company and its then planned $405 million term loan and $30 million revolver.

Colibri plans to use the proceeds, an unrated $180 million second-lien term loan and sponsor equity to fund acquisitions of Becker Professional Education and OnCourse Learning and refinance Colibri's $405 million term loan.

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.