Research Update: Optiv Inc. Upgraded To 'B-' On Improving Operating Performance, Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Optiv Inc. Upgraded To 'B-' On Improving Operating Performance, Outlook Stable

Research Update: Optiv Inc. Upgraded To 'B-' On Improving Operating Performance, Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Optiv Inc. Upgraded To 'B-' On Improving Operating Performance, Outlook Stable
Published Jul 27, 2021
7 pages (2725 words) — Published Jul 27, 2021
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Optiv Inc. improved its performance in the second half of 2020 and has continued to generate good bookings and increase its revenue in fiscal year 2021. In addition, the pricing on the company's debt has significantly improved over the past year, which mitigates the risk that it will undertake a distressed debt exchange. We raised our issuer credit rating on Optiv to 'B-' from 'CCC+'. At the same time, we raised our issue-level rating on the company's first-lien debt to 'B-' from 'CCC+' and our issue-level rating on its second-lien debt to 'CCC' from 'CCC-'. The stable outlook reflects the turnaround in Optiv's performance and our expectation that it will increase its revenue by about 15% and generate free cash

  
Brief Excerpt:

...- Optiv Inc. improved its performance in the second half of 2020 and has continued to generate good bookings and increase its revenue in fiscal year 2021. In addition, the pricing on the company's debt has significantly improved over the past year, which mitigates the risk that it will undertake a distressed debt exchange. - We raised our issuer credit rating on Optiv to 'B-' from '###+'. - At the same time, we raised our issue-level rating on the company's first-lien debt to 'B-' from '###+' and our issue-level rating on its second-lien debt to '###' from '###-'. - The stable outlook reflects the turnaround in Optiv's performance and our expectation that it will increase its revenue by about 15% and generate free cash flow of about $50 million over the next 12 months....

  
Report Type:

Research Update

Ticker
OPTV
Issuer
Optiv Inc.
GICS
IT Consulting & Other Services (45102010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Optiv Inc. Upgraded To 'B-' On Improving Operating Performance, Outlook Stable" Jul 27, 2021. Alacra Store. May 18, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Optiv-Inc-Upgraded-To-B-On-Improving-Operating-Performance-Outlook-Stable-2695473>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Optiv Inc. Upgraded To 'B-' On Improving Operating Performance, Outlook Stable Jul 27, 2021. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Optiv-Inc-Upgraded-To-B-On-Improving-Operating-Performance-Outlook-Stable-2695473>
  
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