S&P rates DoubleClick loans B, CCC+

Standard & Poor's said it assigned its B bank loan rating and a recovery rating of 2 to DoubleClick Inc.'s $340 million first-lien senior secured credit facilities, which consist of a $50 million revolving credit facility due 2010 and a $290 million term loan B due 2012.

At the same time, S&P assigned its CCC+ bank loan rating and a recovery rating of 5 to DoubleClick's $115 million second-lien term loan due 2013.

Proceeds from the transaction will be used to finance partially the acquisition of DoubleClick by Hellman & Friedman LLC.

The B corporate credit rating on DoubleClick was affirmed and removed from CreditWatch, where it was placed with negative implications on Nov. 2, 2004. The outlook is negative.

S&P said the ratings reflect aggressive financial policies, pricing pressure at DoubleClick's ad management services and earnings softness at its Data unit. These factors are only partially offset by the company's leading share in several internet ad-serving niches and its large suite of product offerings.

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