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Serena Software Inc. May 11 Product Image

Serena Software Inc. May 11

  • ID: 1802660
  • May 2011
  • Standard & Poors

Abstract
Solid position in the "change management software" market; Large maintenance revenue base provides some revenue visibility; and Adequate liquidity. Narrow business profile; Limited scale in a market where large, well-capitalized competitors dominate; and Highly leveraged financial profile. The ratings on Serena Software Inc. reflect its narrow business profile, a highly competitive environment with significantly larger competitors, and a highly leveraged financial profile. Serena has a solid No. 2 position in the software configuration management (SCM) market, but this is a limited?and highly competitive?market. The company's large maintenance revenue base, which provides a measure of revenue visibility and adequate liquidity provide support for the rating. Serena provides integrated software and related services that help companies' information technology (IT) departments manage the...

Companies mentioned in this report are:
- Serena Software Inc.

Action: Review

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: Full Analysis

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