Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for Neptune BidCo US Inc. > News item |
S&P rates Neptune BidCo B-, notes B
S&P said it rated Neptune BidCo US Inc. (Nielsen) B- and its new $1.96 billion of first-lien senior secured notes B with a 2 recovery rating, indicating meaningful recovery, with a rounded estimate of 80%. The outlook is stable.
Additionally, the issuer secured an unrated senior secured credit facility consisting of a $650 million revolving credit facility, a $2.5 billion term loan A, a $3.35 billion term loan B and a €510 million term loan B. It also placed an unrated $2.15 billion second-lien term loan and is receiving equity from its sponsors.
Evergreen Coast Capital Corp. and Brookfield Business Partners LP closed on the purchase of Nielsen Holdings plc through Neptune for about $16 billion in a public-to-private leveraged buyout.
“Our rating on Nielsen reflects its strong market position and its substantially higher debt burden due to the LBO. The rating reflects the company's leading position as a provider of information, measurement, and analytics across media platforms. In addition, it has stable client relationships with high renewal rates, barriers to entry are significant, its total addressable market has increased, and switching costs for clients are high. Nielsen also has adequate pricing power, and its profitability is consistently above average for the sector,” S&P said in a press release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.