S&P gives Amynta Warranty loan CCC rating

S&P said it assigned a CCC rating to Amynta Warranty Borrower Inc.’s proposed $285 million second-lien term loan due 2026 with a recovery rating of 6, indicating S&P’s estimate of a negligible recovery in event of a default.

“The ratings on Amynta Holdings LLC and its core subsidiaries – including our B- long-term issuer credit rating and B- first-lien credit facility debt ratings – are unaffected by the new senior notes issuance. Our B- long-term issuer credit rating on Amynta continues to reflect its weak business risk profile and highly leveraged financial risk profile,” said S&P in a press release.

Proceeds will be used to fund the acquisition of a warranty administration business.

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