S&P rates Amentum loan B

S&P said it assigned a B rating with a 3 recovery rating to Amentum Holdings LLC’s proposed $980 million first-lien incremental term loan due 2027. Concurrently, S&P affirmed the B issue-level rating on the company's first-lien credit facility and term loan. The 3 recovery rating is unchanged.

Loan proceeds will be used to help acquire Dyncorp International Inc. for $1.06 billion.

The agency also affirmed the company’s B issuer rating but changed the outlook to negative from stable.

“The outlook revision reflects our view that Amentum's credit metrics will weaken beyond our downgrade trigger at the close of the acquisition before improving in 2022,” S&P said in a press release.

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