S&P assigns B to PODS add-on

S&P said it assigned B issue-level and 4 recovery ratings to PODS LLC's $100 million non-fungible incremental first-lien term loan due 2028. The 4 recovery rating indicates average (30%-50%; rounded estimate: 35%) recovery in default.

PODS’ B issuer and the B issue and 4 ratings on its $1.37 billion, with $1.34 billion, first-lien term loan due 2028 are unchanged, S&P said.

The company intends to use the proceeds for general corporate purposes.

The outlook is stable.

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