S&P rates TransUnion notes B-

Standard & Poor's said it affirmed its ratings, including the B+ long-term corporate credit rating on TransUnion Corp. The outlook is stable.

At the same time, the agency said it assigned its B- issue-level rating to the company's proposed $600 million senior unsecured payment-in-kind toggle notes to be issued by TransUnion Holding Co., the parent company of TransUnion Corp.

The agency said it assigned a 6 recovery rating to the new notes, indicating an expectation for negligible recovery in the event of a payment default.

"The ratings reflect our expectation that TransUnion's consistent profitability and positive free operating cash flow will support the company's 'highly leveraged' financial risk profile," said S&P credit analyst Martha Toll-Reed in a news release.

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