S&P assigns Amdocs notes BBB

S&P said it assigned its BBB issue-level rating to Amdocs Ltd.’s proposed offering of senior unsecured notes due 2030.

Amdocs plans to use the proceeds to bolster its liquidity profile and for general corporate purposes. The purposes may include repaying its revolver and short-term borrowings, fund working capital, capital expenditure, such as the company’s new Israeli campus, and acquisitions and buying back stock.

“Our BBB long-term issuer credit rating on Amdocs remains unchanged, and we believe that, based on the anticipated size of the offering, the company will continue to maintain a conservative financial profile with robust liquidity,” S&P said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.