S&P affirms Riverdeep loan

Standard & Poor's said it affirmed its B bank loan and 1 recovery ratings on the senior secured first-lien term loan B of Riverdeep Interactive Learning USA Inc. (B-/stable), following a $250 million add-on.

The bank loan rating, one notch higher than the corporate credit rating and recovery rating indicate expectation for full recovery of principal in the event of a payment default, the agency said.

Pro forma for the add-on, the facility will consist of a $1.87 billion term loan B due in 2013 and a $250 million revolving credit facility due in 2012, S&P added.

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