S&P rates Getty Images loan BB-

Standard & Poor's said it assigned a BB- rating and recovery rating of 4 to Getty Images Inc.'s proposed $1.37 billion first-lien senior secured credit facility and affirmed its BB- corporate credit rating. The facility consists of a $100 million revolving credit facility due 2015 and a $1.27 billion term loan due 2016.

The 4 recovery rating indicates 30% to 50% expected recovery in a default.

The outlook is stable.

The proceeds will be used to repay the company's existing senior secured credit facilities and fund a distribution to its shareholders.

The ratings reflect an expectation that the company's financial profile will become somewhat more aggressive, S&P said.

The ratings also consider risks related to the company's limited business diversity and vulnerability to economic cyclicality, the agency said.

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