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Allen Systems Group Inc. 'B' Rating Affirmed; All Issue Ratings Affirmed
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
U.S. enterprise management software supplier Allen Systems Group (ASG) proposed to issue a $115 million incremental first-lien term loan. The company intends to use the proceeds from the incremental facility primarily to complete the purchase of Visionapp AG and pay for related fees and expenses. We are affirming our 'B' corporate credit rating on the company, as well as our 'BB-' issue-level rating on its first-lien debt and 'B' issue-level rating on its second-lien notes. The stable rating outlook primarily reflects ASG's track record of successful acquisition integrations and cost containment during the recent downturn as an offset to the modest increase in leverage. NEW YORK (Standard & Poor's) April 28, 2011--Standard & Poor's Ratings Services said today that it...
Companies mentioned in this report are: Allen Systems Group Inc.
Action: Affirmed
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