LANDesk Holdings Inc. Assigned 'B-' Corporate Credit Rating On Acquisition-Related Debt Issuance; Outlook Stable

Clearlake Capital is acquiring IT operations management software provider LANDesk Software Inc. and merging it with Heat Software. The holding company is LANDesk Holdings Inc. We are assigning our 'B-' corporate credit rating to LANDesk Holdings Inc. The stable outlook reflects our projection that LANDesk will maintain its meaningful base of recurring revenue, while deleveraging to the mid-7x area and generating positive free cash flow over the next 12 months. SAN FRANCISCO (S&P Global Ratings) Jan. 4, 2017--S&P Global Ratings said today that it assigned its 'B-' corporate credit rating to South Jordan, Utah-based LANDesk Holdings Inc. The outlook remains stable. At the same time, we assigned 'B-' issue-level ratings, with recovery ratings of '3', to the company's proposed $75

...+ Clearlake Capital is acquiring IT operations management software provider LANDesk Software Inc. and merging it with Heat Software. The holding company is LANDesk Holdings Inc. + We are assigning our 'B-' corporate credit rating to LANDesk Holdings Inc. + The stable outlook reflects our projection that LANDesk will maintain its meaningful base of recurring revenue, while deleveraging to the mid-7x area and generating positive free cash flow over the next 12 months. SAN FRANCISCO (S&P Global Ratings) Jan. 4, 2017--S&P Global Ratings said today that it assigned its 'B-' corporate credit rating to South Jordan, Utah-based LANDesk Holdings Inc. The outlook remains stable. At the same time, we assigned 'B-' issue-level ratings, with recovery ratings of '3', to the company's proposed $75 million secured revolving credit facility and $800 million secured first-lien term loan. The '3' recovery rating indicates our expectation of meaningful recovery (in the upper half of the 50%-70% range) recovery...

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