S&P: Flexera B+, loans BB-

Standard & Poor's said it assigned a B+ corporate credit rating to Flexera Software Inc., along with a BB- rating it its $15 million secured revolving credit facility and $200 million senior secured term loan, with a recovery rating of 2, indicating 70% to 90% expected recovery in a default.

The proceeds will be used to refinance existing 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 a view that the company's private-equity ownership structure is likely to preclude sustained deleveraging, S&P said.

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