Varsity Brands Downgraded for Debt Load
With the upcoming sale to Bain Capital on the horizon, Moody’s downgraded Varsity Brands term loans, which have been upsized to pay for the transaction. The ratings agency changed its $1.125 billion first lien term loan due 2024 which had been increased to $1.4 billion to B2 from B1, while lowering its corporate family rating to B3 from B2 and ... Log in to view full article.
