S&P gives Cambium Learning, loan B

Standard & Poor's said it assigned its B corporate credit rating and negative outlook to Cambium Learning Inc.

The agency said it also assigned a B bank loan rating, at the same level as the corporate credit rating, with a recovery rating of 2, to the company's $158 million senior secured credit facilities, which consist of a $30 million revolving credit facility due 2013 and a $128 million term loan B due 2013.

According to S&P, the ratings reflect the company's short operating history as a consolidated entity, challenges inherent in managing its fast growth and high debt leverage.

These factors somewhat offset the company's position as a provider of supplemental educational products for the growing market niches serving underperforming and special education students, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.