Peraton Corp. Ratings Placed On CreditWatch Positive On Proposed Acquisition Of Perspecta

Herndon, Va.-based government services provider Peraton Corp., a portfolio company of private investment firm Veritas Capital, has entered into a definitive agreement to acquire Perspecta Inc., a leading U.S. government services provider, in an all-cash transaction valued at $7.1 billion. We are placing our ratings on Peraton, including our 'B' issuer credit rating, on CreditWatch with positive implications. The CreditWatch placement reflects our view that the transaction could improve Peraton's credit profile because Perspecta is a higher-rated entity. NEW YORK (S&P Global Ratings) Jan. 29, 2021—S&P Global Ratings today took the rating actions listed above. The positive CreditWatch placement reflects the possibility that we would raise our ratings on Peraton after its acquisition of higher-rated Perspecta. We view the addition

...January 29, 2021 - Herndon, Va.-based government services provider Peraton Corp., a portfolio company of private investment firm Veritas Capital, has entered into a definitive agreement to acquire Perspecta Inc., a leading U.S. government services provider, in an all-cash transaction valued at $7.1 billion. - We are placing our ratings on Peraton, including our 'B' issuer credit rating, on CreditWatch with positive implications. - The CreditWatch placement reflects our view that the transaction could improve Peraton's credit profile because Perspecta is a higher-rated entity. NEW YORK (S&P Global Ratings) Jan. 29, 2021--S&P Global Ratings today took the rating actions listed above. The positive CreditWatch placement reflects the possibility that we would raise our ratings on Peraton after its acquisition of higher-rated Perspecta. We view the addition of Perspecta as increasing Peraton's scale and diversification, improving its margins, and expanding its ability to compete for information...

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