- Language: English
- Published: January 2012
Research Update: The Reynolds & Reynolds Co. Upgraded To 'BB' On Improved Operations, Debt Reduction Jan 12
- ID: 2040042
- January 2012
- Standard & Poors
We are raising our corporate credit rating on U.S. auto dealer software and services provider Reynolds & Reynolds to 'BB' from 'BB-', reflecting improved operating efficiency and strong free cash flow generation despite a difficult industry environment. We are also raising our rating on the first-lien credit facility to 'BBB-' from 'BB+'. The stable outlook reflects the company's high recurring revenue base and strong cash flow characteristics. On Jan. 9, 2012, Standard & Poor's Ratings Services raised its corporate credit rating on Dayton, Ohio-based auto dealer software and services provider Reynolds & Reynolds Co. to 'BB' from 'BB-'. The outlook is stable. Additionally, we revised our issue-level rating on the first-lien facility to 'BBB-' from 'BB+'. The recovery rating remains...
Companies mentioned in this report are: The Reynolds & Reynolds Co.,Dealer Computer Services Inc.
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.
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The Reynolds & Reynolds Co.,Dealer Computer Services Inc.