Fitch downgrades DigiCert

Fitch Ratings said it downgraded the long-term issuer default rating for DigiCert Parent, Inc. and DigiCert Holdings, Inc. to B+ from BB-.

The outlook is stable.

Fitch also said it affirmed the BB+ with recovery rating of RR1 rating for DigiCert's $90 million secured revolving credit facility and $1.447 billion first-lien secured term loan

The agency also downgraded the $400 million second-lien secured term loan to B- with recovery rating of RR6 from BB- with recovery rating of RR4.

The ratings reflect a belief that DigiCert's gross leverage will remain elevated relative to the expectations for the BB- rating category, the agency said.

Fitch said it believes the company's technology will be continuously enhanced by building on the existing foundations to ensure full backward compatibility, rather than being replaced by new disruptive technologies.

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