S&P Report – Blackboard Plans to Raise $60 Million to Help Finance Acquisitions of Moodlerooms and netSpot

On April 18, 2012, Standard & Poor's Ratings Services assigned its 'B+' issue level rating (one notch higher than the corporate credit rating) to Washington, D.C.-based Blackboard Inc.'s proposed $60 million incremental term loan with a recovery rating of '2',indicating substantial (70%-90%) recovery of principal in the event of a payment default.