S&P: Broadridge notes BBB+

S&P said it assigned a BBB+ rating to Broadridge Financial Solutions Inc.'s proposed unsecured notes.

The BBB+ corporate credit rating and stable outlook on the company are unchanged, S&P said.

The proceeds will be used to repay the balance on its revolving credit facility and for general corporate purposes, the agency said.

The ratings reflect the company's good market position, high recurring revenue and good track record of operating performance, as well as leverage of 1x as of March 31, S&P explained.

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