S&P rates Medpace, loan B+

Standard & Poor's said it assigned a B+ corporate credit rating to Medpace Inc., along with a B+ issue-level rating and 4 recovery rating to the company's $335 million senior secured credit facility.

The facility consists of a $50 million senior secured revolver due 2016 and $285 million senior secured term loan due 2017.

The outlook is stable.

The ratings reflect the company's weak business risk profile, highlighted by its small position in contract research services and the uncertain demand in the contract-based business, S&P said.

The company's aggressive financial risk profile reflects leverage of 4.6x, following its leveraged buyout by financial sponsor CCMP Capital, the agency said.

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