S&P changes Eclipse Midco view to negative

S&P said it revised the outlook for Eclipse Midco Inc. (ECi Software Solutions) to negative from stable.

“We base our negative outlook on ECi upon our expectation for a low-single-digit percent organic revenue decline over the next year,” said S&P in a press release.

About a quarter of the company’s customers are small- to mid-sized businesses, and S&P said it was concerned about ECi’s exposure to this segment.

S&P affirmed the company’s B- rating, the B rating on its first-lien credit facilities and CCC rating on ECi’s senior secured second-lien term loan. The respective 2 and 6 recovery ratings are unchanged.

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