The ratings agency gave a B3, or highly speculative, rating to Boardriders’ $450 million senior secured term loan due in 2024 with which it is financing the A$380 million ($292 mm) BBG buyout and paying down other debt. It praised the strategic benefits of the deal, combining two top players in action sports apparel, and notes the financing will amply cover the working capital needs of the merged entity. ... Log in to view full article.