Fitch rates Nielsen B+, loan, notes BB

Fitch Ratings said it assigned Neptune Bidco US Inc. (Nielsen) a long-term issuer default rating of B+ for the first time with a stable outlook. The agency also gave BB/RR2 ratings to Nielsen's $650 million undrawn revolver and secured notes.

Evergreen Coast Capital Corp. and Brookfield Business Partners LP closed on the purchase of Nielsen Holdings plc through Neptune for about $16 billion in a public-to-private leveraged buyout deal.

“Nielsen's leading market position and scale as well as significant cash flow potential over the rating horizon support the rating. The debt of the take-private transaction weighs on the rating until management and the sponsors demonstrate prudent capital allocations,” Fitch said in a press release.

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