S&P rates Aptean loan B-

S&P said it assigned its B- issue-level and 3 recovery ratings to Gator Holdco (UK) Ltd.’s (Aptean Inc.) non-fungible $80 million incremental first-lien term loan.

Aptean will use the loan to fund an acquisition with the remaining amount going to cash on the balance sheet.

Gator’s B- issuer rating and B- rating on the first-lien term loan with a 3 recovery rating and CCC+ rating on the second-lien term loan with a 5 recovery rating) are unchanged, S&P said.

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