| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for Securus Holdings Inc. > News item |
S&P changes Securus outlook
S&P said it revised its outlook on Securus Holdings Inc. to negative from stable and affirmed the B corporate credit rating.
At the same time, the agency affirmed the BB issue-level rating on Securus' super-priority revolving credit facility. The recovery rating remains 1+, indicating an expectation for full recovery in the event of a default.
In addition, S&P affirmed the B rating on the company's senior secured first-lien term loan. The recovery rating remains 3, indicating an expectation for meaningful (50%-70%; rounded estimate: 50%) recovery.
The agency also affirmed the CCC+ issue-level rating on its senior secured second-lien term loan. The recovery rating remains 6, indicating negligible (0%-10%; rounded estimate: 0%) recovery.
“The outlook revision to negative reflects the company's elevated leverage following its recent debt-funded acquisition of GovPayNet and proposed acquisition of ICS,” 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.