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S&P rates MergerMarket loan B
Standard & Poor’s said it affirmed the B long-term corporate credit rating on MergerMarket USA, Inc. (MergerMarket Group).
The outlook is stable.
The agency also said it assigned a rating of B to the proposed £25 million incremental first-lien term loan to be raised by MergerMarket Group.
The recovery rating on this loan is 3, reflecting 50% to 70% expected default recovery.
S&P also said it affirmed the existing issue rating of B on its £164.9 million first-lien term loan and $40 million multiple-currency five-year revolving credit facility.
The recovery rating is 3, reflecting 50% to 70% expected default recovery.
The agency also said it affirmed the rating of CCC+ on the existing £64 million second-lien term loan. The recovery rating on this loan is 6, reflecting 0 to10% expected default recovery.
The affirmation follows MergerMarket Group’s definitive agreement to acquire Perfection Information Ltd. from Centaur Media plc. The acquisition will expand MergerMarket Group’s subscription-based financial information portfolio, S&P said.
Although the agency said it does not believe the acquisition adds sufficient product diversity to revise the group’s business risk profile upward to fair from weak, the acquisition will add another recurring revenue stream in a niche market segment, the agency said.
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