S&P boosts RiskMetrics

Standard & Poor's said it raised its corporate credit rating on RiskMetrics Group Holdings LLC to B+ from B, noting that this action reflects the company's improved financial profile after it repaid its $125 million second-lien term loan following the completion of its IPO.

At the same time, S&P said it removed its ratings on RiskMetrics Group from CreditWatch, where they had been placed with positive implications on Sept. 20, following announcements that the company expected to use proceeds from its planned IPO for debt reduction and general corporate purposes.

The outlook is stable.

The agency said it raised its bank loan rating on the company's $325 million senior secured first-lien credit facility to BB from BB-, adding that the first-lien facility consists of a $300 million term loan due 2014 and a $25 million revolving credit facility due 2013.

The B issue-level rating on RiskMetrics Group's $125 million senior secured second-lien facility was withdrawn as a result of the repayment, the agency noted, adding that the ratings on RiskMetrics Group reflect the company's narrow business profile, short operating track record at its current revenue and profitability levels and high leverage.

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