Research Update: Fair Isaac Corp. Assigned 'BB+' Corporate Credit Rating, Stable Outlook; Senior Unsecured Notes Also Rated - S&P Global Ratings’ Credit Research

Research Update: Fair Isaac Corp. Assigned 'BB+' Corporate Credit Rating, Stable Outlook; Senior Unsecured Notes Also Rated

Research Update: Fair Isaac Corp. Assigned 'BB+' Corporate Credit Rating, Stable Outlook; Senior Unsecured Notes Also Rated - S&P Global Ratings’ Credit Research
Research Update: Fair Isaac Corp. Assigned 'BB+' Corporate Credit Rating, Stable Outlook; Senior Unsecured Notes Also Rated
Published Apr 30, 2018
9 pages (3009 words) — Published Apr 30, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Fair Isaac Corp. (FICO), a global provider of decision data analytics and software and service solutions plans to raise $400 million in senior unsecured notes to reduce the amount outstanding under the company's unsecured revolver which will be used to refinance the series 'D' private placements due May 7, 2018. The company will also amend its unsecured revolving credit facility (not rated) to reduce commitments from $600 million to $400 million and extend maturity to 2023. We are assigning our 'BB+' corporate credit rating to Fair Isaac Corp. We are also assigning our 'BB+' issue-level rating and '3' recovery rating to the company's proposed $400 million senior unsecured notes. The stable outlook reflects our view that the company will maintain

  
Brief Excerpt:

...+ Fair Isaac Corp. (FICO), a global provider of decision data analytics and software and service solutions plans to raise $400 million in senior unsecured notes to reduce the amount outstanding under the company's unsecured revolver which will be used to refinance the series 'D' private placements due May 7, 2018. The company will also amend its unsecured revolving credit facility (not rated) to reduce commitments from $600 million to $400 million and extend maturity to 2023. + We are assigning our '##+' corporate credit rating to Fair Isaac Corp. + We are also assigning our '##+' issue-level rating and '3' recovery rating to the company's proposed $400 million senior unsecured notes. + The stable outlook reflects our view that the company will maintain its competitive position within the Scores and Application segments, driving mid- to high-single-digit total revenue growth and stable EBITDA margins over the next 12 months. We expect the company to generate strong free operating cash flow,...

  
Report Type:

Research Update

Ticker
Issuer
GICS
Application Software (45103010)
Sector
Global Issuers
Country
Region
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Fair Isaac Corp. Assigned 'BB+' Corporate Credit Rating, Stable Outlook; Senior Unsecured Notes Also Rated" Apr 30, 2018. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Fair-Isaac-Corp-Assigned-BB-Corporate-Credit-Rating-Stable-Outlook-Senior-Unsecured-Notes-Also-Rated-2262054>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Fair Isaac Corp. Assigned 'BB+' Corporate Credit Rating, Stable Outlook; Senior Unsecured Notes Also Rated Apr 30, 2018. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Fair-Isaac-Corp-Assigned-BB-Corporate-Credit-Rating-Stable-Outlook-Senior-Unsecured-Notes-Also-Rated-2262054>
  
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