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Prospect News home > News index > List of issuers I > Headlines for Iqvia Holdings Inc. > News item |
S&P rates Iqvia loan, notes BBB-
S&P said it assigned BBB- issue-level and 2 recovery ratings to Iqvia Inc.'s planned $1.25 billion term loan B due 2031 and $500 million senior secured notes due 2029. The 2 recovery rating indicates substantial (70%-90%; rounded estimate: 70%) recovery in default.
“Our BB+ long-term issuer credit rating and stable outlook on its parent, Iqvia Holdings Inc., are unchanged,” the agency said in a press release.
The company is expected to use the proceeds to repay the balance of its euro-denominated term loan B due 2024, partially repay its outstanding B-2 and B-3 term loans due 2025, and pay related fees and expenses.
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