S&P rates Rodan & Fields BB-, loan BB

S&P said it assigned its BB- corporate credit rating to Rodan & Fields, LLC.

The outlook is stable.

The agency also assigned its BB issue-level rating to the proposed $800 million senior secured bank credit facility, which consists of a $200 million revolving credit facility expiring in 2023 and $600 million term loan B due 2025.

The recovery rating is 2, indicating that lenders could expect substantial recovery (70% - 90%; rounded estimate 70%) in the event of a payment default.

S&P said the ratings reflect the company’s relatively good market position in the highly competitive and fragmented skincare market and an expectation that the company will continue to be successful at product development and marketing.

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