Fitch rates Star Parent loans, notes BB, B-

Fitch Ratings said it assigned a first-time issuer default ratings of B to Star Parent, LP and Star Merger Sub, Inc.

Fitch also said it assigned a BB rating with recovery rating of RR1 to Star Merger Sub's senior secured facilities and senior secured notes, along with a B- rating and RR5 recovery rating to Star Merger Sub's senior unsecured notes.

The outlook is stable.

The ratings are driven by the acquisition of Dun & Bradstreet by an investor group for about $7.2 billion, financed by a mix of secured and unsecured debt, preferred stock and equity, Fitch said.

The ratings also reflect Dun & Bradstreet's high financial leverage of 8.1x, which is expected to moderate to about 5x by the end of 2022, the agency said.

Fitch anticipates top line growth and attainment of about $200 million in net run rate cost savings, Fitch said.

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