S&P rates Flexera Software loans BB-

Standard & Poor's said it assigned a preliminary B+ corporate credit rating to Flexera Software Inc. and a preliminary BB- rating to the proposed $15 million secured revolving credit facility and $200 million senior secured term loan.

The preliminary recovery rating of 2 indicates expectation for 70% to 90% recovery.

Proceeds will be used to refinance debt, pay a dividend to shareholders and for general corporate purposes.

The outlook is stable.

"The rating reflects Flexera's niche market position, leveraged financial profile and our view that the company's private-equity ownership structure is likely to preclude sustained debt reduction," S&P analyst Martha Toll-Reed said in a statement.

© 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.