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Prospect News home > News index > List of issuers Z > Headlines for Zebra Buyer, LLC > News item |
Fitch gives Zebra Buyer BB
Fitch Ratings said it assigned expected BB long-term issuer default and expected senior secured debt ratings to Zebra Buyer LLC.
Zebra is a debt-issuing holding company incorporated to acquire Wells Fargo Asset Management from Wells Fargo & Co. by GTCR LLC and Reverence Capital. Zebra is expected to secure a $1.24 billion seven-year first-lien term loan and a revolver that will have $170 million of borrowing capacity at the deal’s close.
“The expected ratings reflect Zebra's good franchise in the traditional investment management (IM) space, assets under management (AUM) diversification by asset class, product and distribution channel, a scalable business model and strong reported investment performance relative to benchmarks,” Fitch said in a press release.
The outlook is stable.
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