S&P changes LGC view to stable, rates loan B

S&P said it revised its outlook on LGC Science Group Ltd. (Loire UK Midco 3 Ltd.) to stable from negative and affirmed the B long-term issuer credit rating on the group and the related B issue and 3 recovery ratings on its secured term loans.

The agency also assigned B issue ratings and a 3 recovery rating to the new proposed term loans.

“The outlook revision to stable from negative indicates that LGC's leverage post dividend recapitalization will remain below historical levels, supported by strong growth in the EBITDA base over FY2022 and FY2023,” S&P said in a news release.

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