S&P assigns B rating to Mediaocean loan

S&P said it assigned a B rating with a 3 recovery rating to Mediaocean LLC’s $743 million senior secured credit facility, which it will use to refinance its capital structure and pay a special dividend to its financial sponsor.

The facility will have a $693 million term loan and a $50 million revolver.

S&P affirmed its B rating on Mediaocean.

The outlook is stable.

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