Rating On TriNet Group Inc. Raised To 'BB-' On Better-Than-Expected Credit Protection Measures; Outlook Positive

HR service provider TriNet Group Inc.'s recent results have surpassed our projections, and we expect operational improvements to result in more free cash flow and modest deleveraging. As a result, we raised our corporate credit rating on TriNet to 'BB-' from 'B+'. We also raised our issue-level rating on the company's first-lien credit facility to 'BB+' from 'BB'. The positive outlook reflects the likelihood of an upgrade in the next 12 months if TriNet's operating performance continues to improve, leading to stronger credit measures. TORONTO (S&P Global Ratings) May 16, 2018--S&P Global Ratings today raised its corporate credit rating on Dublin, Calif.-based human resources (HR) service provider TriNet Group Inc. to 'BB-' from 'B+'. The outlook is positive. At the

...+ HR service provider TriNet Group Inc.'s recent results have surpassed our projections, and we expect operational improvements to result in more free cash flow and modest deleveraging. + As a result, we raised our corporate credit rating on TriNet to '##-' from 'B+'. + We also raised our issue-level rating on the company's first-lien credit facility to '##+' from '##'. + The positive outlook reflects the likelihood of an upgrade in the next 12 months if TriNet's operating performance continues to improve, leading to stronger credit measures. TORONTO (S&P Global Ratings) May 16, 2018--S&P Global Ratings today raised its corporate credit rating on Dublin, Calif.-based human resources (HR) service provider TriNet Group Inc. to '##-' from 'B+'. The outlook is positive. At the same time, we raised our issue-level rating on the company's first-lien credit facility to '##+' from '##'. The recovery rating remains '1', indicating our expectation for very high recovery (90%-100%; rounded estimate:...

Ratings Action