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S&P boosts Vivint
S&P said it raised APX Group Holdings Inc.’s (Vivint) issuer rating to BB- from B-, senior secured debt rating to BB from B, and senior unsecured debt rating to B from CCC. The outlook is stable.
The upgrade follows higher-rated NRG Energy Inc.’s completing its acquisition of Vivint, the agency said.
“We believe that Vivint is strategically important to NRG and in the event of a stress scenario, NRG will likely provide extraordinary support in most foreseeable circumstances despite Vivint maintaining its own capital structure,” S&P said in a press release.
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