S&P: SK Holdco unchanged following add-on

S&P said the B+ ratings and 2 recovery ratings on SK HoldCo LLC's first-lien revolver due 2019 and first-lien term loans due 2021 are unchanged, along with the CCC+ rating and 6 recovery rating on its unsecured notes due 2022 following news of a $75 million add-on term loan.

The 2 recovery ratings on the first-lien revolver and term loans indicate 70% to 90% expected default recovery.

The 6 recovery rating on the unsecured notes indicates 0 to 10% expected default recovery.

All of the company’s other ratings are unchanged.

The proceeds will be used from this add-on for general corporate purposes, including funding acquisitions in its pipeline, S&P said.

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