S&P assigns AlixPartners, loan BB-

Standard & Poor's said it assigned its BB- corporate credit rating and stable outlook to AlixPartners LLP.

At the same time, the agency said it assigned its BB- bank loan rating and recovery rating of 3 to AlixPartners' $435 million senior secured credit facility, which consists of a $50 million revolving credit facility due 2012 and a $385 million term loan B due 2013.

S&P added that the ratings reflect AlixPartners' dependence on highly mobile senior consulting professionals, the competitive market for consulting services and some business cycle exposure, especially as the company gains scale.

These factors are only partially offset by the company's somewhat flexible cost structure, strong margins and potential for good discretionary cash flow, the agency noted.

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