S&P rates ECi loans B-

S&P said it assigned B- issue-level and 3 recovery ratings to Eclipse Midco Inc.'s (ECi Software Solutions) new $170 first-lien term loan.

The company plans to use the proceeds from the add-on to fund its acquisition of an enterprise resource planning software provider for $174 million.

“Our B- issuer credit rating and stable outlook on Eclipse Midco remain unchanged, as do all issue-level ratings on the firm's existing debt,” S&P said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.