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S&P could lift RiskMetrics
Standard & Poor's said it placed the ratings on RiskMetrics Group Holdings LLC, including the B corporate credit rating, on CreditWatch with positive implications. The CreditWatch follows the company's recently proposed initial public offering of up to $200 million.
The issuer has a B rating for its $125 million second-lien term bank loan due 2015 and BB- ratings for its $300 million first-lien term B bank loan and its $25 million first-lien revolving bank loan.
Proceeds from this offering are expected to be used for debt reduction and for general corporate purposes.
S&P said the IPO could help cut the company's operating-lease adjusted leverage of almost 7 times if used to repay debt.
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