S&P affirms J.G. Wentworth, rates Orchard loan B

Standard & Poor's said it assigned its B issue-level rating (the same as the issuer credit rating on J.G. Wentworth LLC) to Orchard Acquisition Co. LLC's proposed senior secured term loan of up to $425 million.

J.G. Wentworth LLC is guaranteeing the term loan. At the same time, S&P affirmed the B issuer credit rating on J.G. Wentworth. The outlook remains stable.

"The issuer credit rating on J.G. Wentworth LLC reflects our assessment of the narrow scope of its business activities, highly leveraged balance sheet, and business model that depends on continuously replenishing asset origination and the subsequent access to refinancing," said S&P credit analyst Tom Connell in a news release. "Wentworth's leading market position somewhat offsets these risks."

© 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.