...February 8, 2021 NEW YORK (S&P Global Ratings) Feb. 8, 2021--S&P Global Ratings today assigned its 'B' issue-level and '3' recovery ratings to Herndon Va.-based Peraton Corp.'s proposed $2.145 billion first-lien term loan due 2028 and its proposed $300 million revolving credit facility due 2026. At the same time, we placed the issue-level debt ratings on CreditWatch with positive implications. On Feb. 1, 2021, Peraton announced its completion of the acquisition of the federal information technology (IT) and mission-support services business of Northrop Grumman Corp., for $3.4 billion. Peraton will use the newly issued debt to fund the acquisition. The combination creates a government mission capability integrator and IT provider focused on delivering IT services and support to a broad range of government missions. Our 'B' issuer rating on Peraton remains on CreditWatch, where we placed them with positive implications on Jan. 29, 2021, after the company announced a definitive agreement to...
