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Published on 8/22/2023 in the Prospect News Bank Loan Daily and Prospect News Distressed Debt Daily.

S&P rates Cyxtera DC DIP B+

S&P said it assigned a B+ rating to Cyxtera DC Holdings Inc.’s $200 million debtor-in-possession term loan.

Cyxtera voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code on June 4.

“Our B+ DIP issue-level rating on Cyxtera's DIP term loan reflects our view of the credit risk borne by the DIP lenders,” S&P said in a press release.

The rating is a point-in-time rating effective only for the date of this report. “We will not review, modify, or provide ongoing surveillance,” the agency noted.


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