S&P gives Atlantic Aviation loan B+

S&P said it rated Atlantic Aviation’s (KKR Apple Bidco LLC) planned $325 million incremental term loan B+ with a 2 recovery rating. The 2 recovery rating indicates substantial (70%-90%; rounded estimate: 75%) recovery in default.

Concurrently, the agency affirmed the company’s B issuer rating, B+ rating on its first-lien credit facility and CCC+ rating on its second-lien facility.

Atlantic Aviation will use the new loan for acquisitions and to pay associated fees and expenses.

The outlook is stable.

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