...- Cloudera Inc., a U.S.-based software provider for big data and analytics, entered into a definitive agreement to be acquired by KKR & Co. and Clayton Dubilier & Rice LLC for approximately $5.3 billion. - The company will fund the transaction with approximately $2.765 billion of sponsor equity, a $1.64 billion first-lien term loan, $500 million second-lien term loan, and an undrawn $250 million revolver. - We lowered our issuer credit rating on Cloudera to 'B-' from '##-' because of the higher leverage. - We are also assigning our 'B-' issue-level and '3' recovery ratings to the company's new first-lien debt, and our '###' issue-level and '6' recovery ratings to the new second-lien term loan. - The stable outlook reflects our expectation Cloudera will generate organic revenue growth in the high-single-digit percentages, with modest EBITDA margin expansion from improved operating efficiency that will reduce leverage to the high-8x area by the end of fiscal 2022....
