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Published on 9/21/2021 in the Prospect News Bank Loan Daily and Prospect News High Yield Daily.

S&P rates AOC secured debt B, notes B-

S&P said it assigned a B issuer credit rating to LSF11 A5 HoldCo LLC (d/b/a AOC) and a B issue-level rating on the secured debt issues. The outlook is stable.

S&P assigned a B- issue-level rating on the unsecured notes.

AOC's parent holding company LSF11 A5 HoldCo is issuing over $1.6 billion of debt to help fund the buyout of AOC by new financial sponsor Lone Star Funds from existing financial sponsor CVC Capital Partners.


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