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S&P rates Ontic loan B
S&P said it assigned B issue and 4 recovery ratings to the planned $85 million incremental term loan to be issued by Bleriot US Bidco Inc., a subsidiary of Bleriot Midco Ltd. (Ontic).
The ratings are the same as S&P’s ratings on Bleriot Bidco’s first-lien term loan and revolver.
Ontic plans to use the proceeds to repay the drawn amount of its revolving credit facility.
The outlook is stable.
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