Fitch gives ZipRecruiter B+, notes BB-

Fitch Ratings said it assigned a first-time long-term issuer default rating to ZipRecruiter, Inc. of B+ and BB-/RR3 ratings to its planned $500 million of senior unsecured notes. ZipRecruiter also has an unrated $250 million senior secured revolver.

“Fitch views ZIP's historic growth profile and trajectory as a credit positive, although its current size with EBITDA less than $150 million is a limiting factor for the IDR. ZIP grew meaningfully in recent years and experienced robust growth YTD coming out of the pandemic, with projected 2021 revenue of more than $700 million versus $430 million in 2019," the agency said in a press release.

The proceeds from the notes are expected to be used for general corporate purposes.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.