S&P rates Autodesk revolver BBB

Standard & Poor’s said it affirmed its BBB corporate credit rating on Autodesk Inc. The outlook is stable.

At the same time, S&P assigned a BBB issue-level rating to the company’s $400 million unsecured revolving credit facility due 2020, the same as the ratings on its existing unsecured debt, reflecting no material subordination.

“The rating on Autodesk reflects its good market position, about average level of recurring revenue, and solid credit protection metrics,” said S&P credit analyst Christian Frank in a news release. “Partly offsetting these factors are a highly competitive marketplace and some exposure to macroeconomic cycles.”

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