S&P rates Snap One loan B

S&P said it assigned its B issue-level rating and 3 recovery rating to Snap One Holdings Corp.'s refinanced $100 million revolving credit facility and $465 million first-lien term loan. The 3 recovery rating reflects an expectation of meaningful (50%-70%, rounded estimate: 60%) recovery in the event of default.

“Our B issuer credit rating on Snap One is unchanged,” S&P said in a press release.

Snap One plans to repay the old debt through the refinancing.

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