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S&P Smart Worldwide facilities BB-
S&P said it assigned a BB- issue-level rating and 2 recovery rating (70%-90%; rounded estimate 75%) to Smart Worldwide Holdings Inc.'s $165 million refinanced term loan and new $50 million revolving credit facility.
Smart’s corporate credit rating remains B+ with a stable outlook. S&P said the stable outlook is based on the agency’s view that increasing macroeconomic stability in Brazil, near-term strength in memory pricing and growth in NAND products will enable Smart to sustain leverage below 3 times, and generate about $20 million of free cash flow in fiscal 2018.
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