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S&P: Maximus loans B, CCC
Standard & Poor's said it assigned a B- corporate credit rating to Maximus Holdings Inc.
The agency also said it assigned a B rating with a recovery rating of 2 to subsidiary MSC Software Corp.'s proposed $305 million senior secured first-lien term loan due 2020 and $10 million revolving credit facility due 2019.
S&P also said it assigned a CCC rating with a recovery rating of 6 to its proposed $120 million senior secured second-lien term loan due 2021.
The outlook is stable.
The ratings reflect the company's weak business risk and highly leveraged financial risk profiles, the agency said.
Although the company's products are used in a broad array of industries, the core auto and aerospace and defense markets account for nearly 60% of the company's $220 million in revenues, S&P said.
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