S&P affirms Focus Financial at BB-

S&P affirmed its BB- issuer credit and issue ratings on Focus Financial Partners Inc.

The agency also affirmed its BB- issue rating on the first-lien term loan and revolving credit facility issued by Focus Financial Partners LLC, a subsidiary of Focus Financial Partners Inc.

The recovery rating on the first-lien facility remains 3, reflecting the expectation for a meaningful (50%) recovery in the event of a payment default.

The outlook remains stable.

The stable outlook reflects the expectation that the company will operate with leverage, as calculated by S&P Global Ratings, between 4x and 5x during the next 12 months and post a double-digit percentage increase in revenues as a result of acquisitions completed during 2020 and 2021.

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