S&P rates WebMD/Internet Brands loan B

S&P said it assigned its B issue-level rating and 3 recovery rating to MH Sub I LLC's (doing business as WebMD and Internet Brands) proposed $4.7 billion first-lien term loan. The 3 recovery rating indicates an expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a payment default.

The outlook is negative.

“We view the term loan as leverage neutral and believe it will extend the company's weighted average debt maturity,” S&P said in a news release.

© 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.