Fitch trims Magenta facility to BB-

Fitch Ratings said it trimmed Magenta Buyer LLC’s (McAfee Enterprise) secured revolving credit facility and first-lien secured term loan to BB-/RR2 from BB/RR1.

The downgrade follows the increase of the first-lien secured term loan by $75 million to $2.25 billion and reduction of the second lien term loan by $25 million to $575 million, resulting in total debt increasing by $50 million, the agency said.

Fitch affirmed the long-term issuer default rating at B and the second-lien term loan at CCC+/RR6.

The outlook is stable.

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