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S&P rates Knology loan B
Standard & Poor's said it assigned its B bank loan rating and 4 recovery rating to Knology Inc.'s proposed $555 million senior secured first-lien term loan and $25 million revolver.
At the same time, the agency said it affirmed the B corporate credit rating.
The outlook is stable.
The 4 recovery rating indicates the expectation for marginal recovery of principal in the event of a payment default, the agency noted.
The rating affirmation reflects S&P's view that while credit measures will weaken initially to fund the transaction, they will return to levels supportive of current ratings over the next year.
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