Fitch assigns CoStar, notes BBB

Fitch Ratings said it assigned a long-term issuer default rating of BBB to CoStar Group, Inc. and a BBB rating to CoStar's proposed benchmark-sized issuance of senior unsecured notes.

The agency said it expects CoStar to use the proceeds to repay borrowings from its revolver, for potential acquisitions, for general corporate purposes and to pay related fees and expenses.

Fitch notes the company will also be amending its credit agreement to, among other things, eliminate the current first -lien security interest and extend the maturity,” the agency said in a press release.

The outlook is stable.

© 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.