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S&P rates DCG loans B-, CCC
S&P said it assigned a B- rating to DCG Acquisition Corp.’s $740 million first-lien senior secured credit facilities, consisting of a $90 million revolving credit facility, a $110 million delayed-draw term loan and a $540 first-lien term loan.
The company also plans a $190 million second-lien senior secured loan that S&P assigned a CCC rating with a recovery rating of 6.
DCG is acquiring DuBois Chemicals Holdings Inc. from the Jordan Co.
S&P assigned a B- rating to DCG.
“The rating on DCG Acquisition Corp. (DuBois Chemicals) reflects our view of the company’s limited geographic diversity, overall narrow scale, and high debt leverage,” S&P said in a news release.
The outlook is stable.
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