S&P rates Cornerstone OnDemand, loan B

S&P said it assigned B ratings to Cornerstone OnDemand Inc. and its $150 million revolving credit facility and $1.005 billion first-lien term loan.

“Cornerstone's S&P Global Ratings'-adjusted starting leverage will be around 7x with its new credit facility for the Saba acquisition, but we expect modest revenue growth and executed cost savings plan will help decrease leverage to the low-6x area in 2020,” the agency said in a press release.

The outlook is stable.

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