S&P upgrades Vungle

S&P said it raised the ratings on Vungle Inc. and its first-lien credit facilities to B+ from B. The 3 recovery rating on the facilities is unchanged.

“We have revised our financial policy assessment and expect adjusted leverage will remain below 5x over the next year, even when accounting for shareholder returns and acquisitions. Our view is supported by industry growth tailwinds, as well as an expectation that the sponsor will not re-leverage the business dramatically,” S&P said in a press release.

S&P said it forecasts Vungle’s revenue growth in 2020 to be around 20%.

The outlook is stable.

© 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.