Fitch rates Red Ventures loan BB

Fitch Ratings said it assigned a long-term issuer default rating of B+ to Red Ventures Holdco, LP and its subsidiaries, Red Ventures LLC and New Imagitas, Inc.

Fitch also said it assigned BB ratings with recovery ratings of RR2 to the first-lien credit facilities under Red Ventures LLC and co-borrower New Imagitas.

The outlook is stable.

The ratings reflect the company's leading position as a digital marketing company, which helps its clients acquire customers using proprietary technology and data analytics, Fitch said.

The company has grown its revenue and EBITDA rapidly during recent periods through its highly acquisitive strategy, the agency said.

Additionally, the company has achieved strong EBITDA margins of more than 40%, given high operating leverage inherent in the business model, Fitch said.

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