S&P gives CoStar, notes BB+

S&P said it assigned BB+ ratings to CoStar Group Inc. and its planned senior unsecured notes. The agency assigned the notes a 3 recovery rating.

CoStar will use proceeds to repay $745 million of borrowings under its $750 million revolving credit facility and for general corporate purposes. Concurrently, the company will amend and extend the credit facility.

The outlook is stable.

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