S&P rates StoneX Group notes BB-

S&P said it rated StoneX Group Inc.’s $550 million of senior secured second-lien notes due 2031 BB-.

The company will use the proceeds to repay the amount outstanding under its revolver and the $348 million of senior secured second-lien notes, also rated BB-, that mature in June 2025.

“We view positively this proactive management of debt maturities and the additional liquidity provided by paying down the revolver, which should support solid funding and liquidity metrics as the firm continues to grow,” S&P said in a press release.

The outlook is stable.

© 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.