S&P rates SunGard Data loans BB

Standard & Poor's said it affirmed its B+ corporate credit rating on SunGard Data Systems Inc. The outlook is stable.

The agency said it also affirmed the BB rating on the company's existing senior secured notes and BB bank loan rating on its non-extended term loan B. The recovery rating on the loan remains 1.

In addition, the agency said it assigned preliminary BB bank loan ratings with a preliminary recovery rating of 1 to the extended term loan B and the renewed revolving credit facility.

Finally, the agency said it affirmed the existing B rating on the outstanding senior unsecured notes and existing B-rating on the outstanding subordinated notes.

The agency said the ratings reflect SunGard's "satisfactory" business risk profile and recurring revenues, as well as its healthy cash flow generation and strong position in the fragmented market for investment-support processing software.

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