S&P Global Scores Authentic Brands’ Term Loan
The ratings agency assigned ABG Intermediate Holdings a BB- issue level rating on its proposed $4.2 billion term loan B due 2033, which will be used to repay the company’s existing $3.7 billion term loan due 2028. The remaining proceeds will pay down revolver borrowings and fund general corporate purposes. As of June 30, ABG’s gross adjusted leverage was 3.7x, well below S&P’s 5x downside threshold ... Log in to view full article.
