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S&P rates Paradigm facilities B
S&P said it assigned B issue and 3 recovery ratings (50%-70%; rounded estimate: 50%) to Outcomes Group Holdings Inc.'s (Paradigm Corp.) planned $800 million senior secured credit facilities, consisting of a five-year $100 million revolver and a seven-year $700 million term loan.
The ratings are in line with those on Paradigm’s outstanding first-lien debt.
“We believe the refinancing of its $574 million existing first-lien term loan and repayment of its $110 million second-lien term loan will be essentially leverage neutral while extending Paradigm's debt maturity profile and modestly lowering run-rate interest expense,” S&P said in a statement.
The outlook is stable.
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