S&P assigns ManTech, notes BB+

Standard & Poor's said it assigned its BB+ corporate credit rating to ManTech International Corp.

The outlook is stable.

The agency said it also assigned a BB+ issue-level rating and a 3 recovery rating to ManTech's proposed $200 million of senior unsecured notes due April 2018.

The proceeds of the notes will be used to pay off borrowings under the existing $350 million revolving credit facility, which was drawn in connection with the company's acquisition of Sensor Technologies Inc., S&P said.

"The ratings on ManTech reflect potential revenue and profitability pressure due to an evolving competitive landscape," said credit analyst Jennifer Pepper, "as well as revenue dependence on federal government spending."

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