S&P rates Janus loan B+

S&P said it assigned a B+ issue-level rating on Janus International Group LLC’s planned seven-year $625 million first-lien term loan due August 2030. The recovery rating assigned is 2, which indicates a substantial (70%-90%; rounded estimate: 80%) recovery in default.

The ratings are the same as S&P’s ratings on Janus’ $745 million term loan B due 2025.

The company intends to use the loan to repay borrowings on the company's first-lien term loan due February 2025. At the same time, the company is also upsizing its unrated asset-based lending revolving credit facility by $45 million to $125 million and extending the maturity to August 2027 from August 2024.

The outlook is positive.

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