Fitch assigns NEP loan B

Fitch Ratings said it assigned B/RR3 ratings to the new incremental loan to be borrowed by NEP Group, Inc., NEP/NCP Holdco, Inc. and NEP II, Inc.

Fitch said it sees NEP's live events segment's recovery continuing to accelerate in the 4Q21 and into 2022, as pandemic-related restrictions loosen.

“Fitch expects live events revenue in fiscal 2022 to exceed 2019 as volumes exceed pre-coronavirus levels due to pent up consumer demand for live entertainment, and artists' desire to regain tour-related earnings,” the agency said in a press release.

The proceeds are expected to be used for general corporate purposes including acquisitions, the repayment of indebtedness and to pay related fees and expenses.

© 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.