Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Fusion Telecommunications International, Inc. > News item |
S&P rates Fusion loan B
S&P said it assigned its B issue-level rating to Fusion Telecommunications International Inc.'s (Fusion Connect) $40 million first-lien term loan A due 2022.
The 3 recovery rating indicates an expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a default.
All of the other ratings on the company remain.
Fusion is adding the new term loan A to a revised financing package for its purchase of the cloud and business services operations of Birch Communications.
“Despite the increase in Fusion's debt, our ratings on the company's existing first-lien debt remain unchanged because the EBITDA contribution (reflecting cost synergies) from the proposed acquisition will modestly increase its valuation in a hypothetical default scenario,” the agency said in a news release.
© 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.