Fitch Downgrades DigiCert on Weaker Leverage, Profit Levels

Fitch Ratings cut its credit grade on digital software verification provider DCert Buyer Inc., which does business as DigiCert, to B- from B, according to a statement on Wednesday.

• Fitch also downgraded its ratings on the firm’s $2.2 billion first-lien term loan and its $125 million first-lien secured revolver to B+ from BB-
  • The company’s $496 million second-lien term loan was downgraded to CCC from CCC+
• DigiCert is backed by a group of private equity firms including Clearlake Capital Group, TA Associates and Crosspoint Capital Partners
• Fitch cited the firm’s weaker leverage metrics due to recent debt-backed acquisitions ...