Fitch gives Quorum loans BB-

Fitch Ratings said it assigned a long-term issuer default rating of B to QBS Parent, Inc.

The outlook is stable.

The agency also assigned a BB-/RR2 rating to Quorum's $30 million secured revolving credit facility and $230 million first-lien secured term loan.

The proceeds, along with equity contribution from Thoma Bravo, will be used to fund the acquisition of Quorum.

Fitch said the ratings are supported by Quorum's industry-leading software solutions for the energy sector covering the upstream, midstream and pipeline segments of the value chain.

The company benefits from its solutions platform through cross-selling opportunities and greater stickiness for its products – Quorum's product platform includes 27 software modules with 1,500 installations with 525 clients, the agency added.

© 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.