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S&P elevates Avast rating
Standard & Poor’s said it raised its long-term corporate credit and issue ratings on Avast Holding BV to BB- from B+.
The outlook is positive.
S&P said the upgrade follows the company’s recent board decision to make a voluntary $125 million prepayment on Avast’s senior secured loans.
“In our view, this reflects a more conservative financial policy than we had previously anticipated from a partly financial sponsor owned company; sponsors generally aim to maximize shareholder returns,” S&P said in a news release.
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