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S&P rates SunGard loans BB
Standard & Poor's said it affirmed the B+ corporate credit rating on SunGard Data Systems Inc. and assigned a BB rating to its $2.7 billion tranche B secured term loan maturing Feb. 28, 2016 and to the $580 million secured revolving credit facility maturing May 11, 2013. The recovery rating is 1.
"The rating affirmation and stable outlook reflect Wayne, Pa.-based SunGard's highly leveraged financial profile and somewhat acquisitive growth strategy," S&P analyst Martha Toll-Reed said in a statement.
"These factors are partially offset by SunGard's strong position in the fragmented market for investment-support processing software and services and its large share of the disaster-recovery/business-continuity services market," Toll-Reed said.
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