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S&P rates Quartz AcquireCo loans B
S&P said it assigned a B issuer credit rating to Quartz AcquireCo LLC and a B issue-level rating and 3 recovery rating to the company’s credit facility.
The outlook is stable.
The senior secured credit facility will consist of a $1 billion term loan and $200 million revolver that will be undrawn at close.
On March 13, Qualtrics International entered into an agreement to be acquired by Silver Lake Partners for an enterprise value of $11.9 billion. The transaction will be partly funded with the $1.2 billion credit facility, issued by a new holding entity, Quartz AcquireCo. The company will continue to do business as Qualtrics.
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