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S&P rates Marsico loans B+, notes CCC+
Standard & Poor's said it assigned a B long-term counterparty credit rating to Marsico Parent Co. LLC and Marsico Parent Holdco LLC.
The outlook is stable.
S&P assigned a B+ rating to Marsico Parent Co.'s planned $1.225 billion senior secured credit facilities, consisting of a $1.2 billion seven-year term loan and a $25 million revolving credit facility.
S&P also assigned a CCC+ debt rating to Marsico Parent Co.'s $600 million eight-year subordinated notes and Marsico Parent Holdco's $400 million 81/2-year pay-in-kind notes.
Ratings factor both the business and financial risks at the midsize, fast-growing asset manager, the agency said.
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