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Research Update: The Reynolds & Reynolds Co. Upgraded To 'BB' On Improved Operations, Debt Reduction Jan 12 Product Image

Research Update: The Reynolds & Reynolds Co. Upgraded To 'BB' On Improved Operations, Debt Reduction Jan 12

  • Published: January 2012
  • Standard & Poors

Abstract
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.
Action: Upgraded

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The Reynolds & Reynolds Co.,Dealer Computer Services Inc.

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