Red Ventures Holdco L.P. Rating Raised To 'BB-' From 'B+'; Debt Rating Raised; Outlook Stable - S&P Global Ratings’ Credit Research

Red Ventures Holdco L.P. Rating Raised To 'BB-' From 'B+'; Debt Rating Raised; Outlook Stable

Red Ventures Holdco L.P. Rating Raised To 'BB-' From 'B+'; Debt Rating Raised; Outlook Stable - S&P Global Ratings’ Credit Research
Red Ventures Holdco L.P. Rating Raised To 'BB-' From 'B+'; Debt Rating Raised; Outlook Stable
Published May 06, 2019
4 pages (1709 words) — Published May 06, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

U.S.-based marketing services provider Red Ventures Holdco L.P.'s leverage and cash flow measures have significantly improved with the successful integration of Bankrate Inc. (acquired in November 2017). We are raising our issuer credit rating to 'BB-' from 'B+' based on our expectation that leverage will decline below 4x in 2019 due to continued growth in profitability and cash flow. We are also raising our issue-level rating on Red Ventures' senior secured credit facility to 'BB-' from 'B+'. The stable outlook reflects our expectation that, barring additional acquisitions, adjusted leverage will improve to the low-3x area in 2019 from 4.1x as of Dec. 31, 2018 (pro forma for recent acquisitions). CHICAGO (S&P Global Ratings) May 6, 2019--S&P Global Ratings today took

  
Brief Excerpt:

...+ U.S.-based marketing services provider Red Ventures Holdco L.P.'s leverage and cash flow measures have significantly improved with the successful integration of Bankrate Inc. (acquired in November 2017). + We are raising our issuer credit rating to '##-' from 'B+' based on our expectation that leverage will decline below 4x in 2019 due to continued growth in profitability and cash flow. + We are also raising our issue-level rating on Red Ventures' senior secured credit facility to '##-' from 'B+'. + The stable outlook reflects our expectation that, barring additional acquisitions, adjusted leverage will improve to the low-3x area in 2019 from 4.1x as of Dec. 31, 2018 (pro forma for recent acquisitions). CHICAGO (S&P Global Ratings) May 6, 2019--S&P Global Ratings today took the rating actions listed above. The upgrade reflects Red Ventures' meaningfully improved leverage and cash flow credit measures driven by the successful integration and growth of the company's acquired credit card...

  
Report Type:

Ratings Action

Issuer
Red Ventures Holdco, LP
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Red Ventures Holdco L.P. Rating Raised To 'BB-' From 'B+'; Debt Rating Raised; Outlook Stable" May 06, 2019. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Red-Ventures-Holdco-L-P-Rating-Raised-To-BB-From-B-Debt-Rating-Raised-Outlook-Stable-2227187>
  
APA:
S&P Global Ratings’ Credit Research. (). Red Ventures Holdco L.P. Rating Raised To 'BB-' From 'B+'; Debt Rating Raised; Outlook Stable May 06, 2019. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Red-Ventures-Holdco-L-P-Rating-Raised-To-BB-From-B-Debt-Rating-Raised-Outlook-Stable-2227187>
  
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