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S&P rates Signify loan B
S&P said it rated Cure TopCo LLC’s (Signify Health) new $150 million first-lien term loan a B rating with a 3 recovery rating (50%-70%, rounded estimate: 55%).
Proceeds will be used to pay off the revolving credit facility, for general corporate purposes, which may include tuck-in acquisitions and increasing liquidity on the balance sheet.
S&P affirmed its B issuer rating on Signify, and the outlook remains stable.
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