S&P rates CACI facility BB+, convertibles BB-

Standard & Poor's said it assigned its BB+ corporate credit rating to CACI International Inc.

The outlook is stable.

At the same time, the agency assigned its BB+ issue-level rating and 3 recovery rating to the company's proposed $1,681,000,000 first-lien senior secured credit facility, consisting of a $750 million revolving credit facility, $631 million term loan A and $300 million term loan B. The 3 recovery rating indicates an expectation for meaningful (50% to 70%) recovery in the event of a payment default.

S&P also assigned its BB- issue-level rating and 6 recovery rating to the company's existing $300 million unsecured convertible notes. The 6 recovery rating indicates an expectation for negligible (0% to 10%) recovery in the event of a payment default.

"Our ratings on CACI reflect its 'satisfactory' business risk profile and 'significant' financial risk profile," S&P credit analyst Al Bonfantini said in a news release.

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