S&P slices Data Axle

S&P said it downgraded its ratings on Data Axle Inc. and its $250 million term loan and $30 million revolver to CCC from B-. The outlook is negative.

“The ratings downgrade and negative outlook reflect the increased risk that the company will be unable to refinance its first-lien secured debt prior to its maturity. Data Axle's revolver ($15 million outstanding as of Sept. 30, 2021) is subject to a springing maturity on Jan. 3, 2023, should the company be unable to refinance its $250 million first-lien term loan due April 2023, 90 days prior to its maturity,” S&P said in a press release.

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