Application usage management software provider Flexera Software LLC is proposing the issuance of a $330 first lien term loan to refinance existing debt. This follows good operating performance during 2012, resulting in leverage below 5x. We are raising our corporate credit rating on the company to 'B+' from 'B'. At the same time, we are assigning a 'B+' issue-level rating to the company's proposed first lien term loan. The stable outlook reflects our expectation that good growth prospects and the embedded nature of its products will support consistent operating performance. On Feb. 14, 2013, Standard&Poor's Ratings Services raised its corporate credit rating on Schaumburg, Ill.-based Flexera Software LLC to 'B+' from 'B'. The outlook is stable. At the
