Fitch assigns Veracode B+, loans BB+

Fitch Ratings said it assigned first-time long-term issuer default ratings of B+ to Veracode Parent, LP and Valkyr Purchaser, LLC, operating as Veracode. Fitch also assigned a BB+/RR1 rating to Veracode’s $30 million secured revolving credit facility and $300 million first-lien secured term loan.

The proceeds will be used to repay Veracode’s $300 million of debt fully.

“Fitch’s ratings are supported by Veracode’s leading position in an emerging and growing area within cybersecurity,” the agency said in a press release.

The outlook is stable.

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