Fitch upgrades Constellation Software

Fitch Ratings said it upgraded Constellation Software, Inc. to BBB+ from BBB. Fitch also upgraded the unsecured subordinated debentures to BBB from BBB- and affirmed the first-lien revolving credit facility at BBB+.

“The upgrades are supported by the increasing revenue scale of Constellation that provides the company with greater financial flexibility in conjunction with its resilient, stable business model stemming from its mission-critical software, leading positions in niche vertical markets, recurring revenue and end-market diversification,” Fitch said in a press release.

The outlook is stable.

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