S&P rates ARC Falcon loans B, CCC+

S&P said it assigned its B issuer credit rating to ARC Falcon I Inc. ahead of financial sponsor The Jordan Co.'s acquisition of LSF 10 Cedar Investments LP, d/b/a Arclin.

At the same time, S&P assigned a B rating to the company's proposed $100 million revolving credit facility, $675 million first-lien term loan and $100 million delayed-draw term loan, as well as a CCC+ rating to its proposed $155 million second-lien term loan.

S&P also affirmed its B rating on LSF 10 Cedar Investments LP and will discontinue ratings after the transaction closes because there will no longer be debt at this entity.

The outlook is stable.

“Despite a full-turn increase in debt leverage in 2021, we expect credit metrics to remain consistent with our expectations for the B issuer credit rating,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.