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S&P gives Vizient facilities BB-
S&P said it assigned a BB- issue-level rating to Vizient Inc.'s new revolver, term loan A and term loan B.
The recovery rating is 2, indicating an expectation for substantial (70%-90%; rounded estimate: 70%) recovery in the event of a payment default.
The agency said the transaction does not affect leverage.
The company will use the proceeds of the revolver and term loan A to repay a portion of its existing term loan B. In addition, the balance of the term loan B is being repriced.
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