S&P: Renaissance Learning to stable

Standard & Poor's said it revised its outlook on Renaissance Learning Inc. to stable from positive.

The agency affirmed the B corporate credit rating and its B+ issue-level rating on Renaissance Learning's $250 million senior secured credit facilities, which consists of a $20 million revolving credit facility due 2017 and a $230 million term loan B facility due 2018.

The recovery rating on this debt remains 2 and indicates the expectations of substantial (70% to 90%) recovery in the event of payment default.

"The outlook revision reflects our view of the company's financial policy and follows the implementation of our updated rating criteria regarding financial sponsor-controlled firms," S&P credit analyst David Tsui said in a news release.

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