S&P Global Ratings affirmed its corporate credit rating of BB+ on TransUnion with a stable outlook.
The affirmation reflects S&P's expectation that the company's leverage will decline significantly over the next 12 to 24 months, following the temporary increase resulting from debt-financed acquisitions. The rating agency expects TransUnion to post continued strong operating performance, gain synergies from recent acquisitions, and expand EBITDA margins.
S&P's ratings action comes as TransUnion amended a debt commitment letter to provide for up to $1.8 billion of term loan facilities. The company will borrow up to $400.0 million in connection with the acquisition of iovation Inc. under a senior secured term B loan facility. In connection with the acquisition of Crown Acquisition Topco Ltd., TransUnion will borrow up to $400.0 million under a senior secured term A loan facility and up to $1 billion under a senior secured term B loan facility, the company disclosed in a filing.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.
