S&P raises QTC

Standard & Poor's said it raised its corporate credit rating on QTC Management Inc. to B+ from B.

The outlook is stable.

At the same time, S&P said it assigned its loan and recovery ratings to the company's proposed $140 million senior secured term loan and existing $15 million revolving credit facility, adding that the debt is rated B+ with a recovery rating of 3.

The agency added that the rating continues to reflect the company's limited size and niche operating focus, its heavy reliance on three government agency customers and its aggressive leverage while these factors are partially offset by the company's established position with several key government agencies, strong margins and its scalable business model.

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