S&P reviews Greeneden

S&P said it placed its B corporate credit rating and issue-level ratings on Greeneden U.S. Holdings II LLC (Genesys) on CreditWatch with negative implications.

Following the close of the acquisition of Interactive Intelligence Group Inc. (unrated), the agency said it will likely withdraw the ratings on Genesys' existing facilities because it expects that it will refinance them as part of this transaction.

"The CreditWatch placement follows Genesys' announcement that it has entered into an agreement to acquire Interactive Intelligence Group Inc. for a total consideration of $1.4 billion," S&P credit analyst Kenneth Fleming said in a news release.

"Genesys is planning to fund this transaction through a combination of cash and debt."

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