S&P gives Match Group notes BB-

S&P said it assigned a BB- issue-level rating to Match Group Inc.'s proposed $450 million senior unsecured notes due 2027.

The 5 recovery rating indicates an expectation for modest recovery (10%-30%; rounded estimate: 10%) of principal in the event of a default.

The BB corporate credit rating and stable outlook on Match are unchanged, reflecting an expectation for healthy organic revenue growth rate from increased subscriber growth and monetization over the next 12-24 months and debt leverage remaining in the mid-2x to low-3x range long term, the agency said.

The rating also reflects the company's solid competitive position in online dating, recurring subscription revenues and good profitability, S&P added.

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