S&P assigns Avast loan B+

Standard & Poor's said it assigned its preliminary B+ long-term corporate credit rating to Sybil Investments BV (Avast).

The outlook is stable.

At the same time, the agency assigned a preliminary B+ issue rating to the $420 million proposed senior secured loan due 2020, to be issued by Sybil Finance BV.

S&P said the preliminary rating on Avast reflects its assessment of the company's financial risk profile as "aggressive" and its business risk profile as "weak."

Avast is planning to raise $420 million of senior secured loans to fund a recapitalization of security software firm Avast Software BV. At the same time, private equity company CVC Capital Partners is acquiring a 41% stake in Avast.

© 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.