S&P rates DigitalGlobe loans BBB-, notes BB

Standard & Poor's said it assigned a BBB- issue-level and 1 recovery ratings to DigitalGlobe Inc.'s proposed $700 million senior secured credit facilities, which consist of a $550 million term loan due 2020 and $150 million revolving credit facility due 2018.

At the same time, S&P assigned a BB issue-level and 4 recovery ratings to the proposed $500 million senior unsecured notes.

DigitalGlobe will use the proceeds of the term loan and senior unsecured notes, along with cash, to finance its combination with GeoEye, repay existing debt at both companies and pay fees and expenses.

S&P also affirmed DigitalGlobe's BB corporate credit rating and negative outlook.

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