S&P rates DLG Acquisitions loan B

S&P said it affirmed the long-term issuer credit rating and existing debt ratings on DLG Acquisitions Ltd.

The agency also assigned a B rating and 3 recovery ratings to the proposed €400 million first-lien senior secured term loan and £50 million revolving credit facility.

DLG Acquisitions, the parent All3Media Group, announced that it intends to refinance its capital structure, S&P said.

The transaction will be neutral in terms of leverage and will allow the group to extend its debt maturities, the agency said.

The stable outlook indicates that over the next 12 months, S&P said it expects All3Media's adjusted EBITDA to increase toward £80 million with adjusted leverage gradually reducing toward 6.5x.

In 2018, the group performed in line with expectations and delivered strong 12% revenue and EBITDA growth on the back of global demand for content and contribution from acquisitions that it completed in 2017 and 2018, the agency said.

© 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.