S&P assigns B to WH add-on loan

S&P said it assigned its B issue-level rating to WH Intermediate LLC's $180 million nonfungible incremental first-lien term loan due 2027. The recovery rating is 3, reflecting meaningful recovery (50%-70%; rounded estimate: 55%) in default.

The agency said its other ratings on the company, including the B senior secured credit rating, are unchanged.

The additional debt will support the acquisition of the Warners, Olga, and True&Co brands.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.