Fitch rates Qlik B+, loans BB+

Fitch Ratings said it assigned a long-term issuer default rating of B+ to Qlik Parent, Inc. and Project Alpha Intermediate Holding, Inc. (collectively doing business as Qlik Technologies).

The outlook is stable.

Fitch also assigned a BB+/RR1 rating to Qlik's $200 million secured revolving credit facility and $2.4 billion first-lien secured term loan.

Project Alpha Intermediate is the issuer of debt.

Proceeds from the transaction will be used to fully refinance the outstanding debt of Qlik and Talend.

“The ratings are supported by Qlik's and Talend's industry-leading software solutions for enterprise data integration, data management, analytics, data visualization, business intelligence and automation applications,” the agency said in a news release.

“The company's growth strategy and private equity ownership could limit deleveraging despite the FCF generation projected for the company.”

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