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S&P rates Alight loan BB-
S&P said it assigned its BB- issue-level rating to Tempo Acquisition LLC's (Alight Solutions) new term loan B in a refinancing transaction.
“This does not materially change the terms of the $2.5 billion loan but improves pricing by 25 basis points. Our recovery rating of 2 (rounded estimate: 70%) is therefore unchanged.
“We continue to forecast adjusted leverage will decline below 6x by year-end 2023,” the agency said in a statement.
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