S&P gives Eisner loan B-

S&P said it gave B- issue-level and 3 recovery ratings to Eisner Advisory Group LLC's planned $795 million senior secured first-lien term loan due 2031. The 3 recovery rating indicates meaningful (50%-70%; rounded estimate: 55%) recovery in default.

The company plans to use the proceeds to repay its first-lien term loan due 2028, also rated B- with a 3 recovery rating, which has $726 million outstanding, repay $50 million of borrowings under its revolving credit facility, and pay related transaction fees and expenses. Additionally, the transaction would extend the maturity date of Eisner's revolver by two years.

The outlook is stable.

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