Fitch rates Qualtrics loans BB+

Fitch Ratings said it assigned a long-term issuer default of B+ to Quartz AcquireCo, LLC, doing business as Qualtrics.

The outlook is stable.

Fitch also assigned a BB+/RR1 rating to Qualtrics $200 million secured revolving credit facility and $1 billion first-lien secured term loan.

The proceeds, along with cash on balance sheet and equity, will be used for the acquisition of Qualtrics by Silver Lake Partners and Canada Pension Plan Investment Board.

The acquisition was announced on March 13.

“The ratings are supported by Qualtrics' industry-leading software solutions for enterprise experience management that incorporates data acquisition and analytics to provide enterprise customers with actionable outcomes,” the agency said in a news release.

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