Moody's: Triple Point, loan B2

Moody's Investors Service said it assigned a B2 corporate family rating to first-time issuer Triple Point Technology, Inc., along with B2 ratings to its $10 million revolver and $125 million senior secured debt facilities.

The debt will be used to finance a $105 million distribution to its equity owners.

The outlook is stable.

The ratings reflect the moderate to high leverage pro forma for the equity distribution, high reliance on service revenues relative to other enterprise software providers and the small size of the company, Moody's said.

The ratings also recognize the company's strong niche position in the fast growing energy trading and risk management software industry and the broader commodity management software industry, the agency said.

The ratings also consider the company's shareholder-friendly financial policies as evidenced by the equity distribution, Moody's added, and the acquisitive nature of the company.

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