Gartner, Inc. bonds receive 'Buy' rating, stable credit score at Gimme Credit
), a global research and advisory firm, was given a"stable" credit score and a"Buy" rating by Gimme Credit for its 3.75% notes due 2030 at T5+140. This rating follows Gartner's announcement earlier in the week about the replacement of its existing secured credit facility with a new $1 billion unsecured revolving credit facility. The move maintains Gartner's debt/EBITDA ratio at 1.
Gimme Credit's outlook for Gartner in 2024 anticipates another year of below-trend top-line growth, expected to rise by mid-single digits. The report identifies"change fatigue" among Chief Information Officers as a factor for delayed spending in 2023, which might persist into 2024. However, this is likely to be offset by growth in non-technology-related business and steady demand in less cyclical verticals. EBITDA for 2024 is projected to be slightly down at $1.
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