RatingJun 8, 2026, 08:02 AM
Legence Credit Rating Upgraded to BB-; Term Loan Pricing Drops
AI Summary
Legence Corp. announced that S&P Global Ratings upgraded its issuer credit rating to BB- from B+, with a positive outlook. This upgrade, following a previously disclosed amendment to its credit agreement, resulted in a 25 basis point decrease in the pricing of its $995 million term loan. The Term Loan's pricing has now been reduced to SOFR plus 1.75%.
Key Highlights
- S&P Global Ratings upgraded Legence's issuer credit rating to BB- from B+.
- The outlook for the credit rating is positive.
- The credit rating upgrade resulted in a 25 basis point decrease in term loan pricing.
- Pricing on the $995 million Term Loan has declined to SOFR plus 1.75%.
Price Impact
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