Omnitracs Inc. Assigned Preliminary 'B' Corporate Credit Rating And Stable Outlook On Plan To Be Spun Off By Qualcomm - S&P Global Ratings’ Credit Research

Omnitracs Inc. Assigned Preliminary 'B' Corporate Credit Rating And Stable Outlook On Plan To Be Spun Off By Qualcomm

Omnitracs Inc. Assigned Preliminary 'B' Corporate Credit Rating And Stable Outlook On Plan To Be Spun Off By Qualcomm - S&P Global Ratings’ Credit Research
Omnitracs Inc. Assigned Preliminary 'B' Corporate Credit Rating And Stable Outlook On Plan To Be Spun Off By Qualcomm
Published Oct 14, 2013
1319 words — Published Oct 14, 2013
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Abstract:

Omnitracs Inc., a provider of connectivity hardware and software to the transportation and logistics industry, is being sold by Qualcomm Inc. in a spin-off transaction to Vista Equity Partners for $800 million. We are assigning a preliminary 'B' corporate credit rating to the company. In addition, we are assigning a preliminary 'B+' issue-level rating and preliminary '2' recovery rating to the first-lien term loan and a preliminary 'CCC+' issue-level rating and preliminary '6' recovery rating to the second-lien term loan. The stable outlook reflects our expectation that revenue declines will moderate, and pro-forma leverage will remain in the 6x area over the next 12 months. NEW YORK (Standard&Poor's) Oct. 14, 2013--Standard&Poor's Ratings Services today said it

  
Brief Excerpt:

RESEARCH Omnitracs Inc. Assigned Preliminary 'B' Corporate Credit Rating And Stable Outlook On Plan To Be Spun Off By Qualcomm Publication date: 14-Oct-2013 Primary Credit Analyst: Martha P Toll-Reed, New York (1) 212-438-7867; molly.toll-reed@standarda...

  
Report Type:

Ratings Action

Issuer
Omnitracs, LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Omnitracs Inc. Assigned Preliminary 'B' Corporate Credit Rating And Stable Outlook On Plan To Be Spun Off By Qualcomm" Oct 14, 2013. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Omnitracs-Inc-Assigned-Preliminary-B-Corporate-Credit-Rating-And-Stable-Outlook-On-Plan-To-Be-Spun-Off-By-Qualcomm-1203171>
  
APA:
S&P Global Ratings’ Credit Research. (). Omnitracs Inc. Assigned Preliminary 'B' Corporate Credit Rating And Stable Outlook On Plan To Be Spun Off By Qualcomm Oct 14, 2013. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Omnitracs-Inc-Assigned-Preliminary-B-Corporate-Credit-Rating-And-Stable-Outlook-On-Plan-To-Be-Spun-Off-By-Qualcomm-1203171>
  
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