S&P affirms GEO, rates loan BB+

Standard & Poor's said it affirmed all of its ratings on the GEO Group Inc., including the BB- corporate credit rating, and assigned its BB+ issue rating to the company's proposed $750 million bank credit facility.

The recovery rating on the proposed bank facility is 1.

S&P noted that it affirmed the BB- issue rating on the $250 million senior unsecured notes and the recovery rating on the notes remains 4. The outlook is stable.

The ratings are based on preliminary terms and assume the proposed acquisition and financing structure close on substantially the same terms as presented to the agency.

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