S&P gives RedPrairie B, loans B, CCC+

Standard & Poor's said it assigned its B corporate credit rating to RedPrairie Corp.

At the same time, the agency said it assigned its B rating, with a recovery rating of 2, to RedPrairie's proposed $170 million first-lien senior secured bank facility as well as a CCC+ rating, with a recovery rating of 5, to RedPrairie's proposed 61/2-year, $45 million second-lien senior secured bank facility.

The outlook is stable.

S&P noted that the ratings on RedPrairie reflect its narrow product focus within a highly competitive and consolidating marketplace, moderately acquisitive growth strategy and high debt leverage, adding that these are only partly offset by a largely recurring revenue base, supported by a broad customer base and relatively stable operating margins.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.