S&P rates Citrix notes BBB

S&P said it assigned its BBB issue-level rating to Citrix Systems Inc.’s planned senior unsecured notes due 2026.

“We expect the company to apply all of the net proceeds from this issuance toward its $2.25 billion purchase of Wrike Inc. Although this issuance will increase Citrix’s funded debt, we believe it is consistent with the financing plan it communicated on Jan. 19, 2021,” S&P said in a press release.

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