Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for SunGard Data Systems Inc. > News item |
S&P assigns SunGard notes B-
Standard & Poor's said it assigned a B- rating to SunGard Data Systems Inc.'s $1.25 billion of senior notes due 2013 and senior floating-rate notes due 2013.
SunGard's B+ corporate credit rating and B+ senior secured rating are affirmed, the agency said.
The outlook is stable.
The senior unsecured notes are rated B- because of the amount of secured debt in the capital structure, the agency noted.
The ratings on SunGard reflect its highly leveraged financial profile following its acquisition by a group of seven equity sponsors in a leveraged buyout for about $11.4 billion, S&P added.
© 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.