Fitch rates WildBrain facilities BB+

Fitch Ratings said it assigned BB+/RR1 ratings to WildBrain Ltd.'s new senior secured revolving credit and term loan credit facilities.

Proceeds will be used to repay WildBrain's secured term loan B, also rated BB+/RR1.

“Fitch views the proposed credit facilities positively, as they extend the existing June 30, 2022 revolver maturity into 2026, and the existing Dec. 29, 2023 term loan maturity into 2028. Both facilities will be modestly larger, and Fitch-calculated pro forma leverage will increase less than 0.1x,” the agency said in a press release.

The outlook is negative.

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