S&P rates Evergood 4 ApS loan B

S&P said it assigned its preliminary B long-term corporate credit rating to Evergood 4 ApS, the new parent company of Nets A/S. The outlook is stable.

S&P also assigned a preliminary B rating to the proposed first-lien term loan and revolving credit facility. The recovery rating is 3, indicating an expectation of meaningful (rounded estimate: 50%) recovery prospects for creditors in the event of a payment default.

The rating action follows the planned leveraged buyout of Nets by Hellman & Friedman for about €5.4 billion equivalent.

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