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S&P assigns CEC loan CCC
S&P said it assigned its CCC issue-level rating and 4 recovery rating to CEC Entertainment LLC’s new $175 million second-lien exit term loan due 2027. The 4 recovery rating indicates expectations for average (30%-50%; rounded estimate: 30%) recovery in default.
S&P said its CCC issuer credit rating and negative outlook on CEC are unchanged.
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