Fitch rates MeridianLink BB-, loan BB+

Fitch Ratings said it assigned MeridianLink, Inc. and ML California Sub, Inc. (collectively MLNK) a BB- long-term issuer default rating. Fitch also gave the planned co-issued first-lien credit facility consisting of a $435 million term loan B and a $50 million revolving credit facility BB+/RR1 ratings.

The agency withdrew the B IDR for Project Angel Holdings, LLC and Project Angel Intermediate Holdings, LLC, previously operating as MeridianLink, citing a reorganization. The BB/RR1 ratings for its secured revolver and first-lien secured term loan were withdrawn, too.

“The BB- rating and stable outlook are supported by MLNK's significant debt reduction and conservative financial policy. Fitch expects the company to maintain low leverage and generate FCF,” the agency said in a press release.

The outlook is stable.

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