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S&P rates DCert loan CCC
S&P said it assigned DCert Buyer Inc.’s (DigiCert) second-lien debt a CCC and a 6 recovery rating.
DigiCert plans to issue a $337 million incremental first-lien term loan and a $130 million incremental second-lien term loan.
S&P also affirmed the B- ratings on Digicert and its first-lien revolver and term loan.
The incremental debt is part of DigiCert’s dividend recapitalization. It plans to make a $570 million dividend payout.
The outlook is stable.
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