Moody's rates Aspect Software B3

Moody's Investors Service said it gave a B3 corporate family rating to Atlas Purchaser, Inc. (Aspect Software Inc.) a B2 rating to the first-lien debt facilities and a Caa2 to the second-lien term loan.

“Aspect's B3 CFR is primarily driven by the high leverage at close of the acquisitions offset to some degree by the combined companies' solid niche positions in the call center infrastructure and workforce optimization management software industries. Aspect has significantly restructured operations over the last two years and stabilized revenues after years of declines. The call center industry continues to evolve; however, and the company faces a number of much larger, better-capitalized competitors including Nice, Genesys, Cisco, Avaya, Amazon, Twilio and Verint. Aspect and Noble have particular strength in the outbound call center segment for large enterprise customers,” Moody’s said in a press release.

The proceeds will be used along with new and rolled equity to fund private equity firm Abry Partners' acquisition of Aspect Software, Inc. and Noble Systems Corp.

“The outlook is stable, reflecting Moody's expectation of modest revenue growth over the next 12-18 months and limited disruption from the integration. Revenues have the potential to grow at low to mid-single-digit rates if the company can maintain its recent competitive revival with modest headwinds as the company winds down certain non-core lines,” the agency said in a press release.

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