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Bulletin: Solera Holdings Inc. Ratings Unaffected By Proposed Acquisition Of AUTOonline GmbH Informationssytem Sep 09
Standard & Poors, Sep 2009
Abstract
NEW YORK (Standard & Poor's) September 17, 2009--Standard & Poor's Ratings Services said today that it does not expect its rating on San Diego-based Solera Holdings Inc. (BB-/Positive/--) to be affected by the company's announcement that it has signed a definitive agreement to purchase up to 100% of the capital stock of AUTOonline GmbH Informationssyteme, a leading European eSalvage vehicle exchange platform, from DEKRA Automobil GmbH and other sellers. The acquisition is consistent with the company's strategy to expand internationally and we have factored an acquisition of this size into our rating and outlook. At June 30, 2009, the company had $235.4 million in cash and generated over $100 million in free cash flow on a latest-12-month basis. Given the...
Companies mentioned in this report are: Solera Holdings Inc.
Action: Bulletin
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.
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