| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Millennium Trust Co. > News item |
S&P trims Millennium first-lien loan
S&P said it lowered the rating of Minotaur Acquisition Inc.’s (Millennium Trust Co.) first-lien credit facilities to B- with a 3 recovery rating from B with a 2 recovery rating. The second-lien issue-level and recovery ratings are unchanged.
Millennium plans to buy PayFlex Systems USA Inc. from CVS Health Corp. for $775 million. It will finance the transaction with a $485 million fungible first-lien term loan add-on, $175 million in preferred equity, $65 million in new common equity and $71 million in balance sheet cash.
The agency also affirmed Millennium’s B- issuer rating.
The outlook is stable.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.