S&P rates Expera loan BB-

S&P said it assigned a B+ corporate credit rating to Expera Specialty Solutions LLC, along with a BB- rating to its proposed $285 million term loan B due 2023.

The 2 recovery rating on the term loan indicates 70% to 90% expected default recovery.

The outlook is stable.

The ratings reflect Expera's weak business risk profile and aggressive financial risk profile, S&P said.

The stable outlook is due to an expectation that the company will maintain a conservatively managed balance sheet with plans to boost revenues and improve profitability through new product development, the agency said.

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