| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for Blue Coat Holdings, Inc. > News item |
S&P ups, withdraws Blue Coat
S&P said it raised its corporate credit rating on Blue Coat Holdings Inc. to BBB- from B- and removed the rating from CreditWatch, where it was placed with positive implications on June 13.
The outlook is negative.
The agency also withdrew the ratings on the company’s $100 million revolver due 2020, $1.375 billion first-lien term loan due 2022 and $470 million senior unsecured notes due 2023.
S&P subsequently withdrew its BBB- corporate credit rating on Blue Coat.
"These actions follow the closing of Symantec Corp.'s acquisition of Blue Coat Holdings Inc.," S&P credit analyst Kenneth Fleming said in a news release.
"With the successful close, Blue Coat is a wholly owned subsidiary of Symantec and we believe it becomes core to Symantec as per our group rating methodology assessment. Thus, we equalize the ratings on Blue Coat with those on parent Symantec at BBB-."
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.