...September 7, 2021 NEW YORK (S&P Global Ratings) Sept. 7, 2021--S&P Global Ratings today said Peraton Corp.'s (B+/Stable/--) announced $240 million add-on to its first-lien secured term loan is neutral to its credit measures as incremental earnings and cash flow offset additional debt. Peraton will use proceeds of the offering to fund the acquisition of a privately held federal information technology infrastructure services firm. We view the transaction as modest relative to Peraton's scale. There is no change to the 'B+' issue-level rating and '3' recovery rating (rounded estimate: 55%) on the term loan Our ratings on Peraton reflect its position as one of the largest providers of IT services to federal customers, its favorable cash flow generating capacity, and its high financial leverage and ownership by private equity firm Veritas Capital....
