Moody’s changes Open Text to stable

Moody's Investors Service said it affirmed Open Text Corp.'s Ba1 corporate family rating and revised the outlook to stable from negative.

The agency also affirmed the company's Ba1-PD probability of default rating, Baa3 rating on the first-lien debt facilities and Ba2 rating on the unsecured notes.

The revision of the outlook to stable reflects the expectation that although acquisitive, the company will continue to maintain conservative financial policies including leverage levels around 3 times and strong liquidity, Moody’s said.

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