S&P rates Creation, loan B

S&P said it gave B ratings to Creation Technologies Inc. and its new $455 million first-lien term loan. The loan’s recovery rating is 3.

Owned by Lindsey Goldberg, the company has shown an aggressive financial policy with its acquisition strategy, the agency said.

Creation will fund two acquisitions with the term loan, a new $90 million asset-based lending revolving credit facility and additional equity from financial sponsor Lindsay Goldberg.

The outlook is stable. S&P said it forecasts strong demand for Creation's electronic manufacturing services will help generate good growth such that leverage will improve to the low-5x area in 2022.

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