S&P affirms TransUnion after add-on

Standard & Poor’s said it affirmed the BB- rating on TransUnion’s term loan B following the company’s $100 million add-on to the loan, which was issued by TransUnion LLC.

The 3 recovery rating indicates 50% to 70% expected default recovery.

The corporate credit rating on TransUnion remains at BB- with a positive outlook.

The ratings reflect the company’s defensible market position as one of the three leading consumer credit reporting firms globally, S&P said, with leverage that declined to the mid-4x range since the company’s initial public offering in 2015.

This transaction is not expected to materially affect leverage as proceeds from the upsized term loan will be used to refinance existing revolver borrowings, the agency said.

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