Fitch rates LSF9 B, loan BB, notes B+

Fitch Ratings said it assigned LSF9 Atlantis Holdings, LLC (Victra) a B long-term issuer default rating. Fitch also gave BB/RR1 ratings to the company’s asset-based loan, which is being downsized to $75 million from $85 million.

Fitch also assigned an expected B+/RR1 rating to Victra’s planned $635 million of secured notes, whose proceeds will be used to refinance its term loan and pay a sponsor dividend.

“The ratings reflect Victra’s reasonably stable position as the largest authorized retailer for the leading personal communications provider Verizon Communications Inc. (A-/stable) and the company’s good long-term operating track record, albeit mitigated by some declines in recent years,” Fitch said in a press release.

The outlook is stable.

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