S&P rates TriNet facility BB+

S&P said it assigned its BB+ issue-level and 1 recovery ratings to TriNet USA Inc.'s $675 million senior secured credit facility maturing 2023, which includes a $425 million term loan A and a $250 million revolving credit facility.

The company used the proceeds to repay in full outstanding credit facilities borrowed under TriNet HR Corp.

The agency said the corporate credit rating on TriNet Group Inc. remains BB- with a positive outlook, reflecting an expectation for continued deleveraging beyond 2018.

The rating also reflects an expectation that TriNet's adjusted leverage will remain around the low-2x area, S&P said.

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