Moody's: Vertafore unchanged

Moody's Investors Service said Vertafore's B2 corporate family rating is not affected by the proposed $75 million first lien add-on term loan to fund a $72 million acquisition of a software company.

The company's financial leverage after the acquisition is expected to be unchanged, Moody's said.

However, if the company is unable to raise the proposed $75 million incremental term loan to fund its pending acquisition, Vertafore would likely use a large amount of its available liquidity, the agency said.

The reduced liquidity could pressure the long-term rating, which could result in a possible downgrade to B3, Moody's said.

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