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S&P assigns Ciena loan BB+
S&P said it assigned Ciena Corp.’s planned $400 million incremental senior secured first-lien term loan due 2030 BB+ with a 3 recovery rating.
The agency also affirmed all its ratings on Ciena, including the BB+ issuer credit rating, the BB+ issue-level rating with a 3 recovery rating on its senior secured term loan due 2025 and the BB issue-level rating with a 5 recovery rating on its 4% unsecured notes due 2030.
Ciena will use the proceeds for general corporate purposes and to fund cash to the balance sheet.
The outlook is stable.
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