S&P rates TransUnion facilities BB+

S&P said it affirmed its BB+ corporate credit rating on TransUnion.

The outlook is stable.

At the same time, the agency assigned its BB+ issue-level rating to TransUnion's proposed senior secured credit facilities, which include $400 million of add-on term loan A-2 debt due in 2022 and $1.4 billion of new first-lien term loan B-3 debt due in 2025.

The 3 recovery rating indicates an expectation of meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a payment default.

“The affirmation reflects a view that leverage will decline meaningfully over the next 12 to 24 months, following the temporary spike from the debt-financed acquisitions,” S&P said in a news release.

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