S&P rates OE Connection loans B-, CCC

S&P said it assigned a B- rating with a recovery rating of 3 to OEConnection LLC’s planned first-lien term loan.

For the planned second-lien term loan, the agency assigned a CCC rating with a recovery rating of 6.

OEConnection plans to borrow $607 million of first- and second-lien debt to partly fund its sale to Genstar Capital from Providence Equity.

S&P affirmed its B- rating on the company.

The outlook is stable.

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