S&P rates BPTW loan B-

S&P said it assigned ALKU or BPTW Merger Sub LLC’s $248 million first-lien senior secured credit facility a B- rating with a recovery rating of 3.

ALKU completed a debt recapitalization to fund its acquisition by FFL Partners.

The B- rating on the company reflects its small size and market position in the staffing industry, S&P said.

The outlook is stable.

“The stable rating outlook reflects our view that ALKU’s credit metrics will improve steadily over the next 12 months as the company continues to benefit from strong, organic mid- to high-teens percent revenue and EBITDA growth,” said S&P in a press release.

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