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S&P rates Peak Jersey loans B-
S&P said it assigned B- ratings to Peak Jersey Holdco’s $400 million term loan, £50 million first-lien revolver and $140 million second-lien loans.
The agency also assigned a B- rating to the company. Peak Jersey recently completed an acquisition and is highly leveraged, S&P said.
“Moreover, we see uncertainties relating to Peak Jersey's future EBITDA and free operating cash flow generation due to likely significant integration costs, despite potential synergies,” S&P said in a press release.
The outlook is stable, because S&P said it expects Peak Jersey will successfully integrate its operations and begin delivering on planned efficiencies over the next 12 months.
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