S&P assigns B+ to Motion Midco

S&P said it assigned B+ ratings to Motion Midco Ltd. and its senior secured term loan facilities. The agency also assigned 3 recovery rating to the company’s term loan facilities; and a B- issue rating and 6 recovery rating to its senior notes. The final ratings are in line with the preliminary ratings assigned on Oct. 8.

“Our ratings on Motion Midco follows the completion of the acquisition of Merlin by the consortium comprising Blackstone, Kirkbi and Canada Pension Plan Investment Board. Going forward, the financial accounts will be consolidated at Motion Midco,” said S&P in a press release.

The outlook is negative.

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