S&P gives J.D. Power B-, facilities B, CCC

S&P said it assigned its B- corporate credit rating to J.D. Power.

The outlook is stable.

At the same time, the agency assigned a B issue-level rating to the company's first-lien credit facility consisting of a $32.5 million revolving credit facility due 2021 and the $550 million first-lien term loan due 2023.

The 2 recovery rating indicates an expectation of substantial recovery (70% to 90%; rounded estimate 75%) in a default scenario.

S&P also assigned a CCC issue-level rating to the company's $160 million second-lien term loan. The 6 recovery rating indicates an expectation of negligible recovery (0% to 10%; rounded estimate 5%).

“The B- corporate credit rating reflects our expectation that the company's leverage will remain high and its free cash flow will remain modest, although we expect it will have sufficient liquidity to manage its operations over the next 12 months,” the agency said in a news release.

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