S&P rates TriNet Group B+

S&P said it affirmed the B+ corporate credit rating on TriNet HR Corp. and revised the outlook to positive from stable.

The agency also said it assigned a B+ corporate credit rating and positive outlook to the parent company in the group, TriNet Group Inc., the guarantor of TriNet HR Corp.'s debt.

S&P also said it affirmed the BB rating on the group's first-lien credit facility consisting of a $75 million revolving credit facility, $375 million term loan A and $135 million term loan A-2, all due in 2019.

The recovery rating remains at 1, indicating 90% to 100% expected default recovery.

The positive outlook reflects the potential for a higher rating over the next 12 months if the company sustains debt-to-EBITDA at less than 3x for several consecutive quarters and resolves the problems stemming from its internal control systems, S&P said.

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