S&P Global maintained its CCC+ rating on the Sycamore Partners-backed fishing equipment portfolio company, even after it took on additional debt to acquire Svendsen Sport A/S in Feb. for $153.4 million. To fund the deal, Pure Fishing upsized its ABL revolver to $250 million and issued a $100 million first-lien term loan and a $25 million second-lien term loan. S&P expects the company’s adjusted leverage to be in the 7.5x-9.25x range for the rest of the year, but is optimistic that ... Log in to view full article.