S&P lifts RedPrairie

Standard & Poor's said it raised the corporate credit rating on RedPrairie Corp. to B+ from B and removed the rating from CreditWatch, where it was placed with developing implications on March 10.

A fund affiliated with New Mountain Capital, LLC has recently acquired the company, according to the agency. As part of the transaction, the company entered into a new $240 million term loan maturing 2016, which it used to refinance its prior debt.

"The higher corporate credit rating is a result of greater covenant headroom afforded by the new credit agreement, as well as recent positive operating trends," S&P analyst Jennifer Pepper said in a statement.

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