S&P ups Qlik, rates loans B

S&P said it upgraded its issuer credit rating for Qlik (Project Alpha Intermediate Holding Inc.) to B from B- and assigned B issue-level and 3 recovery ratings to its new revolving credit facility and first-lien term loan. The agency also ended the CreditWatch with positive implications.

Qlik completed its debt refinancing on Oct. 26 giving it a new $200 million revolver and a $2.4 billion term loan, due 2028 and 2030, respectively, which it will use to paydown its debt.

The upgrade reflects the completed refinancing and improved credit metrics after the Talend acquisition, the agency said.

The outlook is stable.

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