S&P: McGraw-Hill School Education view now negative

Standard & Poor’s said it revised its outlook on McGraw-Hill School Education Holdings LLC (MHSE) to negative from stable and affirmed the B+ corporate credit rating on the company.

S&P also affirmed its BB- issue-level rating on all of the company’s existing first-lien senior secured debt. The recovery rating on the senior secured term loan remains 2, indicating an expectation for significant recovery (70% to 90%; high end of the range) of principal for lenders in the event of payment default.

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