S&P revises Laureate Education view to positive

S&P said it affirmed its B issuer credit rating on Laureate Education Inc. and revised its outlook to positive from stable.

S&P also affirmed its B+ issue-level rating on the company's senior secured credit facility and B- issue-level rating on the company's senior unsecured notes. The 2 recovery rating on the senior secured credit facility indicates an expectation for substantial (70%-90%; rounded estimate: 75%) recovery in the event of a payment default. The 5 recovery rating on the senior unsecured notes reflects expectations for modest (10%-30%; rounded estimate: 20%) recovery in the event of a payment default.

“The outlook revision to positive follows the company's announcement that it plans to divest its business units located in Europe, Asia, and Central America and use a majority of the proceeds, which according to the company could exceed $1 billion, to repay debt,” S&P said in a news release.

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