S&P rates Ipreo loans B+, notes CCC+

Standard & Poor’s said it assigned a corporate credit rating of B to Infinity Acquisition LLC, also referred to as Ipreo.

The agency also said it assigned B+ ratings to the $45 million senior secured revolving credit facility due 2019 and the $345 million senior secured term loan B due 2021 with recovery ratings of 2, indicating 70% to 90% expected default recovery.

The outlook is stable.

S&P also said it assigned a CCC+ rating to the $185 million senior unsecured notes due 2022 with a recovery rating of 6, indicating 0 to 10% expected default recovery.

Infinity Acquisition Finance Corp. is the co-issuer of the unsecured notes.

The ratings reflect the company’s high level of debt used to fund the acquisition of the company by Blackstone and Goldman Sachs Merchant Banking, S&P said.

The ratings also consider the company’s narrow business focus, competition from much larger competitors with greater financial resources and the company’s revenue sensitivity to changes in financial markets, the agency said.

These risks largely offset the deeply entrenched nature of the company’s products, S&P said.

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