S&P rates Kestrel Bidco debt BB-

S&P said it assigned a BB- rating to Kestrel Bidco Inc.’s secured term loan of about $2 billion and undrawn revolving credit facility of about $350 million. With the BB- rating, S&P assigned 2 recovery ratings to the debt.

The agency also assigned a B+ rating to Kestrel, which was established to take WestJet Airlines Ltd. private. WestJet will be the surviving entity.

The outlook is stable.

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