S&P rates Riverdeep notes, loan

Standard & Poor's said it assigned its B+ long-term corporate credit rating to educational software publisher Riverdeep Group Ltd.

At the same time, S&P assigned its B+ long-term rating to Riverdeep's proposed $100 million senior secured facilities and assigned its B- long-term rating to Riverdeep's proposed €205 million seven-year senior notes.

The outlook is stable.

"The ratings reflect Riverdeep's highly leveraged capital structure, as well as the potential revenue volatility of its U.S.-focused specialist software businesses," said S&P credit analyst Anna Overton.

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