S&P: Solera unaffected

Standard & Poor's said its BB- issue-level and 4 recovery ratings on Solera Holdings Inc.'s new senior unsecured notes are unaffected by the upsizing of its notes issue to $850 million from $700 million.

The BB- corporate credit rating, stable outlook and other ratings on the company's debt are unchanged.

S&P said that although the company's pro forma leverage will increase to 4.7 times from 4.3 times as a result of the upsizing, it is still within the leverage limit for the rating.

The agency said it also believes that the company's leverage will decline to the mid-to-low 4 times area over the next two years due to organic EBITDA growth and incremental EBITDA contribution from acquisitions.

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