Fitch revises Imprivata view to stable

Fitch Ratings said it revised the outlook for Imprivata, Inc. to stable from negative and affirmed the long-term issuer default rating at B. The agency also affirmed the company's $100 million secured revolving credit facility and $1.12 billion first-lien secured term loan at BB-/RR2. Fitch does not rate the second-lien term loan.

“The outlook revision to stable follows a recovery in Imprivata's credit protection metrics. Fitch believes the heightened awareness of IT security risks arising from high-profile security breaches in recent years provides support for the secular growth of the IT security industry,” the agency said in a statement.

Fitch said it forecasts EBITDA leverage of around 8x in 2023, but nearing 6x by 2025.

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