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S&P lifts, withdraws Deltek after merger
S&P said it raised the corporate credit rating on Deltek Inc. to BBB from B.
The agency also said it removed all of the ratings on the company from CreditWatch, where they were placed with positive implications in December.
The agency said it subsequently withdrew all of the ratings on Deltek.
The outlook is positive.
The upgrade and subsequent withdrawal follow the completion of the merger of Deltek with Roper Technologies Inc. on Dec. 28, S&P explained.
The agency said it equalized Deltek’s corporate credit rating with the ratings on Roper.
Deltek confirmed that its outstanding term loans and revolver were retired, the agency noted.
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