Private equity firm Vista Equity Partners is acquiring U.S.-based EagleView Technology Corp., a provider of aerial imagery and 3D measurement software solutions. The company is planning to issue new debt to partly fund the acquisition. We are assigning our preliminary 'B' corporate credit rating to EagleView Technology. We are also assigning our preliminary 'B' issue-level rating and preliminary '3' recovery rating to the company's proposed revolving credit facility and first-lien term loan, and our preliminary 'CCC+' issue-level rating and preliminary '6' recovery rating to its proposed second-lien term loan. The stable outlook reflects our expectation that EagleView will continue to generate good revenue growth and positive free operating cash flow (FOCF), resulting in EBITDA expansion and modest deleveraging over the
