S&P affirms Acrisure

S&P said it affirmed its B long-term issuer credit rating on Acrisure Holdings Inc. and its core subsidiaries.

The outlook is stable.

At the same time, the agency affirmed the B debt ratings on the company's first-lien credit facilities, including the $235 million revolver due 2021 and upsized $2.4 billion term loan, including the existing $2 billion term loan and $400 million add-on term loan.

The recovery ratings are 3 (65%), indicating an expectation for meaningful recovery in the event of a default.

The agency also affirmed the CCC+ debt rating on the company's $925 million senior notes with a recovery rating of 6 (0%), indicating an expectation for negligible recovery.

S&P said the affirmation reflects a view that Acrisure's credit measures post-issuance will remain stable and within the agency’s expectations.

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