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S&P rates Superannuation and Investments BB
S&P said it gave BB ratings to Superannuation and Investments FinCo Pty Ltd. and its planned A$1.5 billion equivalent first-lien term loan and A$150 million delayed-drawdown term loan.
The company is a nonoperating holding company of the newly formed Superannuation and Investment Group (SI Group). It also operates as a funding vehicle for the SI Group's operating subsidiaries, which include Colonial First State Investments Ltd. (Cfsil) and Avanteos Investments Ltd. (AIL).
“We assess SIF's financial risk profile as aggressive with debt to leverage between 4x and 5x over the next 12 months,” S&P said in a press release.
The outlook is stable.
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