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S&P rates Match notes BB-
S&P said it assigned a BB- rating and 5 recovery rating to the Match Group Inc.’s proposed $400 million senior unsecured notes due 2024.
The 5 recovery rating indicates 10% to 30% expected default recovery.
S&P also said it raised the rating on the company’s $800 million senior secured term B bank loan due 2022 to BBB- from BB+ and revised the recovery rating to 1 from 2.
The 1 recovery rating indicates 90% to 100% expected default recovery.
The company’s BB corporate credit rating and stable rating outlook are unchanged.
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