Deltek Inc.?s Revolving Facility, Term Loan Ratings Raised To 'BB+'; Recovery Rating Revised To '1' Nov 11
- Language: English
- Published: November 2011
On Nov. 17, 2011, Standard & Poor's Ratings Services raised its issue-level ratings and revised its recovery rating on U.S. enterprise application software provider Deltek Inc. The company has successfully integrated three acquisitions since our last analysis, which has expanded their business both geographically and into new end markets, leading us to believe that the company would be more valuable in a hypothetical default and to revise our valuation accordingly. The company has also repaid more than $30 million of its term loan since our last recovery analysis, which improved recovery prospects. Standard & Poor's simulated default scenario in 2016 envisions increased pressure from larger competitors who possess greater financial resources and technical capabilities, a failure in services or technological...
Companies mentioned in this report are:
- Deltek Inc.
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