Cloudera Inc., a U.S.-based software provider for big data and analytics, will be bought by private-equity firms KKR&Co. and Clayton Dubilier&Rice LLC for approximately $5.3 billion. At transaction close, which is subject to shareholder and antitrust approval, there is a high probability that the private equity owners will significantly increase leverage. The company's new capital structure has yet to be finalized. S&P Global Ratings is placing the 'BB-' issuer credit rating on Cloudera on CreditWatch with negative implications. At the same time, we are placing our 'BB-' rating on the company's secured debt on CreditWatch with negative implications. We will resolve the CreditWatch negative placement once we have clarity on the new capital structure post-transaction and
