Fitch assigns Veracode B, loans BB-

Fitch Ratings said it assigned B long-term issuer default ratings to Mitnick Parent, LP and Mitnick Corporate Purchaser, Inc. (collectively Veracode, Inc.). The agency also gave BB-/RR2 ratings to Veracode's $75 million secured revolving credit facility and $580 million first-lien secured term loan.

Fitch is not rating the $235 million second-lien secured term loan. Mitnick Corporate Purchaser is the issuer of the new credit facilities.

The proceeds, along with an equity contribution from TA Associates Management, LP, are being used for TA Associates' acquisition of a majority equity stake from Thoma Bravo.

Fitch said it withdrew its ratings for Veracode Parent, LP, which it rated B+ and Valkyr Purchaser, LLC and associated credit facilities, which were rated BB+, under Valkyr Purchaser because the entities are undergoing a reorganization and ratings will no longer be relevant. Accordingly, Fitch will no longer provide ratings for Veracode Parent and Valkyr Purchaser.

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