Fitch rates Dun & Bradstreet notes BBB+

Fitch Ratings said it assigned a BBB+ rating to the Dun & Bradstreet Corp.'s proposed senior unsecured note offering due 2017 and 2022.

The company has an issuer default rating of BBB+, bank credit facility rating of BBB+, senior unsecured rating of BBB+ and commercial-paper and short-term issuer default ratings of F2.

The proceeds will be used to redeem or repurchase all of the $400 million 6% senior notes due April 2013 and reduce credit facility borrowings, Fitch said.

The outlook is negative.

The ratings are supported by the company's ability to generate strong, consistent free cash flow, the agency said, along with its solid credit-protection measures and high barrier to entry relating to its database.

The ratings also consider its ability to leverage its database into multiple revenue-generating products, Fitch said.

Rating concerns include limited revenue diversification and potential pricing pressures in the sales and marketing segment, the agency said.

© 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.