Research Update: SS&C Technologies Inc. Corporate Credit Rating Raised To 'BB' On Improving Operating Performance And Reduced Leverage Apr 11

Standard & Poors, April 2011

Abstract
U.S. financial software provider SS&C has improved its credit profile through good operating performance, a successful acquisition strategy, and debt repayments since the IPO in 2010, reducing leverage to about 1.8x on a pro forma basis. We are raising our corporate credit rating on SS&C to 'BB' from 'BB-'. The stable outlook reflects our expectation that SS&C will continue to generate consistent growth and free operating cash flow while maintaining leverage at or below 3x. On April 29, 2011, Standard & Poor's Ratings Services raised its corporate credit rating on Windsor, Conn.-based financial software provider SS&C Technologies Inc. to 'BB' from 'BB-'. The outlook is stable. At the same time, we raised the issue-level rating on the company's first-lien facility...

Companies mentioned in this report are:
- SS&C Technologies Inc.

Action: Upgraded

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

- SS&C Technologies Inc.

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