Fitch assigns McGraw-Hill Education B+

Fitch Ratings said it assigned a B+ long-term issuer default rating to McGraw-Hill Education, Inc. MHE replaced McGraw Hill, LLC as borrower/issuer after Platinum Equity, LLC's acquisition of MHE. Fitch also affirmed MHE's senior secured debt BB+/RR1 ratings, originally rated under McGraw Hill, LLC.

The agency also gave BB+/RR1 ratings to MHE's senior secured notes and the planned $575 million incremental senior secured term loan, which will partially fund MHE's Achieve3000 acquisition. Fitch also assigned B/RR5 ratings to MHE's senior unsecured notes.

The outlook is stable due to MHE's continued operating performance improvements, Fitch said.

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