S&P rates Alight Solutions notes B

S&P said it assigned a B rating and 3 recovery rating to Alight Solutions proposed $250 million of senior secured notes.

The agency affirmed the B ratings on the company and its issue-level ratings.

S&P revised the outlook to negative from stable.

“The negative outlook reflects the risk of a prolonged period of business disruption resulting from the Covid-19 pandemic and global recession, which continues to weaken credit measures. We expect mid- to high-single-digit percent area organic revenue declines and gross adjusted leverage to temporarily exceed 8x in 2020,” said S&P in a press release.

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