S&P: No change to Engility

Standard & Poor's said its BB+ issue-level rating and 1 recovery rating on Engility Corp. remain unchanged following the company's announcement that it has upsized its proposed senior secured credit facilities from $300 million to $385 million.

The agency said the BB- corporate credit rating and stable outlook on Engility remain unchanged.

S&P said it continues to view Engility's financial risk profile as significant, despite a somewhat lower pro forma adjusted debt-to-EBITDA of 3x at the close of the revised financing transaction, versus 3.8x leverage based on the originally proposed financing terms.

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