Fitch assigns McAfee Enterprise B

Fitch Ratings said it assigned a first-time B long-term issuer default rating to Magenta Buyer LLC (McAfee Enterprise), citing its strong brand, resilient recurring sales and solid cash-generative qualities.

Fitch also gave BB/RR1 ratings to McAfee Enterprise's $125 million secured revolving credit facility and $2.175 billion first-lien secured term loan. Additionally, Fitch gave CCC+/RR6 ratings to the $600 million second-lien term loan.

The proceeds, along with sponsor equity from a consortium led by Symphony Technology Group (STG), will be used to acquire Magenta Buyer LLC from McAfee Corp.

The outlook is stable.

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