S&P rates Epicor RSG loan B

Standard & Poor's said it assigned its B corporate credit rating to RSG Holdco LP.

The outlook is stable.

At the same time, the agency assigned its B issue-level rating and 3 recovery rating to Epicor RSG US Inc.'s $150 million first-lien term loan due 2022 and $15 million revolver due 2020 (with co-borrower ERSC Amalco). The 3 recovery rating indicates an expectation for substantial (50%-70%; upper half of the range) recovery in the event of payment default.

"The rating reflects RSG's narrow market focus in the broader retail point-of-sale system technologies markets, competition from larger POS software competitors, limited track record as a standalone entity, and business exposure to retail industry cyclicality," S&P credit analyst said in a news release.

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