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Prospect News home > News index > List of issuers C > Headlines for Capstone Logistics Acquisition Inc. > News item |
S&P assigns Capstone loans B-
S&P said it assigned a B- issue-level rating and 3 recovery rating (55% rounded estimate) to Capstone Logistics Acquisition Inc.’s proposed $75 million revolver and $395 million first-lien term loan.
Proceeds will be used to refinance its debt structure. S&P also affirmed Capstone’s B- rating.
“Although the transaction increases Capstone's debt levels modestly, it alleviates any short-term liquidity concerns by extending maturities,” S&P said in a press release.
The outlook is stable.
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