S&P upgrades Prometric

Standard & Poor's said it raised Prometric Inc.'s ratings to BB from BB- and on the senior credit facility to BBB- and maintained the recovery rating at 1, indicating expectation of 90% to 100% recovery.

The outlook is stable. Ratings were removed from CreditWatch, where they were placed with positive implications on May 13.

"The rating on Prometric reflects our expectation that leverage will remain low and operating performance will remain relatively stable," S&P analyst Hal Diamond said in a statement.

The company's business risk profile is fair, based on its consistent revenue and EBITDA growth and its good position in the highly concentrated and competitive standardized-test delivery market, the agency said.

Low debt leverage, good margin of compliance with financial covenants and moderate financial policies underpin Prometric's financial risk profile, the agency noted.

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