S&P rates Avaya loan B

Standard & Poor's said it assigned its B issue rating and 2 recovery rating to Avaya Inc.'s proposed $1.4 billion term loan B-4 due 2017.

The B-4 term loan amends and extends the company's B-1 term loan due 2014.

S&P said the transaction does not affect its B- corporate credit rating or stable outlook on the company.

The agency said it expects Avaya to reestablish positive operating trends over the next 12 months while maintaining adequate liquidity.

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