S&P: RedPrairie loan to BB-

Standard & Poor's said it raised its issue rating on RedPrairie Corp.'s senior secured credit facility to BB- from B+.

The rating is one notch higher than S&P's corporate credit rating on the company.

S&P said it also revised its recovery rating to 2 from 3, which indicates its expectation of substantial (70%-90%) recovery of principal in the event of a payment default.

The B+ corporate credit rating and stable outlook remain unchanged.

The agency said it expects that the company's revenues will grow modestly and operating margins will remain at their current levels given their diverse and entrenched customer base.

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