S&P rates Eclipse Midco B-

S&P said it assigned a B- issuer credit rating to Eclipse Midco Inc. The outlook is stable.

Eclipse Midco is a holding company for ECi Software Solutions, a U.S.-based enterprise resource planning (ERP) provider for manufacturing, construction, and e-commerce distribution industry verticals.

“The rating is based on the borrower's limited scale, elevated leverage profile, and our expectation that the company will rely on acquisitions to complement modest growth in subscription revenues, as well as its niche focus within the fragmented ERP software market on small and midsize business (SMB) customers within the manufacturing, construction, and e-commerce distribution industry verticals,” S&P said in a news release.

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