S&P: IHS unchanged on upsizing

Standard & Poor’s said the corporate credit rating on IHS Inc. is unchanged following the upsizing of the company’s proposed senior unsecured notes to $750 million from $500 million.

The company will use the incremental proceeds to pay down borrowings on its revolving credit facility, S&P said.

Also unchanged are the BB+ rating and 3 recovery rating on the company’s revolving credit facility, term loan and proposed notes, all of which are unsecured. The 3 recovery rating indicates 50% to 70% expected default recovery.

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