S&P rates Fotolia loans B, CCC+

Standard & Poor's said it assigned Fotolia Holdings Inc. its B preliminary corporate credit rating.

The outlook is stable.

At the same time, the agency assigned the company's proposed $200 million senior secured first-lien term loan due 2020 its preliminary issue-level rating of B with a preliminary recovery rating of 3.

In addition, S&P assigned the company's proposed $100 million senior secured second-lien term loan due 2021 its preliminary issue-level rating of CCC+ with a preliminary recovery rating of 6.

The company will use the proceeds to fund a dividend of about $160 million and refinance the existing credit facility.

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