| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers N > Headlines for NXT Capital Inc. > News item |
S&P applies BB- to NXT loan
S&P said it assigned a BB- rating to NXT Capital Inc.’s upsized secured term loan B.
The company’s existing BB- issuer credit rating is unaffected.
Under the new credit agreement, NXT is issuing a new $300 million senior secured term loan B and will also have access to $50 million revolving credit facility, which is expected to be undrawn at close.
Proceeds will be primarily used to retire the outstanding balance of $254 million on the company’s existing term loan B.
S&P said the stable outlook incorporates its expectations that over the next 12 months, NXT will maintain its leverage, measured as debt-to-adjusted total equity (ATE) between 3 times and 3.75 times.
© 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.