S&P: GEO Group loan BB

Standard & Poor's said it assigned a BB issue rating and 1 recovery rating to GEO Group Inc.'s $100 million incremental term loan A-3 due in August 2015.

The incremental term loan A-3 was issued through the incremental debt provision under the company's existing senior secured credit facilities.

All of the existing ratings on the company, including the B+ corporate credit rating, remain unchanged. The long-term outlook is stable.

The agency said it estimates that total debt will remain unchanged at about $1.6 billion following the transaction.

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