S&P gives Ankura, B-, loans B-, CCC

S&P said it gave Ankura Holdings LP a B- issuer credit rating. The agency also assigned B- ratings to Ankura’s planned $75 million first-lien revolver and a $465 million first-lien term loan. The proposed $150 million second-lien term loan received a CCC rating.

“We expect the company to benefit from the secular growth of the business consulting services sector. Our rating reflects our expectation that Ankura will continue growing its platform of niche business consulting services in line with the greater consulting industry,” the agency said in a press release.

The outlook is stable. The outlook mirrors the view Ankura will deliver positive organic revenue growth over the next two years and widen its EBITDA margins through cost efficiencies and acquisition integration, S&P said.

“We expect the company's FOCF to debt to improve to around 3% in 2022,” S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.