S&P assigns BB+ to IHS CCR, loans

Standard & Poor's said it assigned its BB+ corporate credit rating to IHS Inc.

The outlook is stable.

At the same time, the agency assigned its BB+ issue-level rating to IHS' $1.3 billion senior unsecured revolving credit facility due 2019, $700 million senior unsecured term loan due 2019 and proposed $500 million senior unsecured notes due 2022. The 3 recovery rating on these instruments indicates an anticipation for meaningful recovery (50% to 70%) in the event of payment default.

Proceeds will be used to repay IHS' term loan due 2015 and a portion of the balance on its revolving credit facility. IHS Global Inc. is the borrower of the $700 million term loan.

"The ratings reflect our view of IHS' acquisitive growth strategy, which we believe could result in re-leveraging to the 4x area, and its good market positions, high recurring revenue, and good track record of operating performance," S&P credit analyst Christian Frank said in a news release.

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