Allied Universal dips; Axilone U.S. loan not currently being extended, but hoped to be soon

By Sara Rosenberg

New York, June 16 – In the secondary market on Friday, Allied Universal’s term loan continued to soften as investors were still reacting to a ratings downgrade that was announced on by Moody’s Investors Service on Thursday.

Allied Universal’s term loan fell to 95 5/8 bid, 96 3/8 offered on Friday from 96 1/8 bid, 96 5/8 offered on Thursday in reaction to ratings being cut by Moody’s, according to a trader. On Wednesday, prior to the downgrade news, the term loan was quoted at 96½ bid, 96¾ offered.

Meanwhile, on the primary front, Axilone (CCP Lux Holding Sarl) is not extending its U.S. term loan B to 2028 from 2025 at this time, but the plan is to do it sometime soon, as the company successfully completed the extension of its euro term loan B.

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