S&P lifts LendingTree, cuts loans

S&P said it raised its rating for LendingTree Inc. to B- from CCC+ and lowered its senior secured bank debt to B- from B. The agency also revised the recovery rating to 3 (60%) from 1 (90%-100%).

LendingTree’s new $175 million term loan, $125 million upfront and $50 million delayed draw, improves the company's ability to meet its upcoming $284 million of senior unsecured convertible notes maturity in July 2025, the agency noted.

“The B- rating reflects our view that LendingTree's capital structure is sustainable following its recent debt issuance, which better positions it to meet its upcoming July 2025 debt maturity,” S&P said in a press release.

The outlook is stable.

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