S&P rates Monotype loan B-

S&P said it assigned a B- rating with a recovery rating of 3 to Monotype Imaging Holdings Inc.’s proposed $50 million secured revolving credit facility due 2024 and $440 million first-lien term loan due 2026.

The loans, along with an unrated $135 million second-lien term loan, will be used in a leveraged buyout by HGGC.

Concurrently, the agency rated Monotype B-. S&P sees the company’s debt leverage at around 7.3x in December.

The outlook is stable.

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