S&P rates j2 Global notes BB-

Standard & Poor's said it assigned its BB- corporate credit rating to j2 Global Inc. The outlook is stable.

The agency said it also assigned a BB- issue-level rating and a 3 recovery rating to j2's proposed Rule 144A privately placed $250 million senior unsecured notes due 2020. The 3 recovery rating indicates an expectation of meaningful recovery in the event of a payment default by the borrower.

The agency said the ratings reflect S&P's assessment of the company's business risk profile as weak and its financial risk profile as intermediate.

"We base these assessments on j2's position in a fairly narrow segment of the cloud-based services market, its heavy reliance on one product for a significant portion of its revenues and its exposure to technology risks," said S&P credit analyst Jacob Schlanger in a news release.

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