Research Update: Pinnacle Holdco (Paradigm) Assigned 'B' Corporate Credit Rating; Outlook Stable; First-, Second-Lien Debt Also Rated Aug 12
Standard & Poors, August 2012
Abstract
Apax Partners and JMI Equity have acquired Paradigm Ltd. through a combination of equity and senior secured debt. We are assigning our 'B' corporate credit rating to Luxembourg-based Pinnacle Holdco S.a.r.l., parent of the Paradigm group of companies, and a provider of software solutions to the global exploration and production industry. We are assigning issue-level ratings to the company's first-lien credit facilities and second-lien term loan. The stable outlook reflects the company's stable and growing revenue base and good cash flow generation On Aug. 7, 2012, Standard & Poor's Ratings Services assigned its 'B' corporate credit rating to Luxembourg-based Pinnacle Holdco S.a.r.l. The outlook is stable. We also assigned a 'B+' issue-level rating with a recovery rating of '2' to...
Companies mentioned in this report are: Pinnacle Holdco S.a.r.l.,Pinnacle (US) Acquisition Co Ltd
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Pinnacle Holdco S.a.r.l.,Pinnacle (US) Acquisition Co Ltd
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