We expect Optiv's credit metrics to be weaker than our previous forecast, with current S&P Global Ratings' adjusted leverage at around mid-9x due to softness in the business in 2017. While leverage is projected to improve during the second half of the year, we now expect adjusted leverage to be in the high 8x area at the end of fiscal 2017. We are lowering our corporate credit rating on Optiv to 'B-' from 'B'. Concurrently, we are lowering our issue-level ratings to 'B-' from 'B' on Optiv's first-lien term loan and to 'CCC' from 'CCC+' on its second-lien term loan. The stable outlook reflects our view that Optiv Security will continue to benefit from its exposure to the cybersecurity end
