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Summary: CSG Systems International Inc. Feb 12
Standard & Poors, Feb 2012
Abstract
The ratings on Englewood, Colo.-based CSG Systems International Inc. reflect a 'fair' business risk assessment and an 'intermediate' financial risk profile (as defined in our criteria). Standard & Poor's Ratings Services' assessment of CSG's business risk as fair incorporates the uncertainty of new business growth because of the slowing global economy, execution risk associated with its acquisition of Intec Telecom Systems PLC and transformation into a global company, a concentrated customer base, and significant upcoming contract renewals over the next few years. The highly recurring revenue base, the long-term nature of its relationships with key cable clients, and the critical nature of its products and services all temper those risks. CSG provides billing solutions for the telecommunications industry--mostly cable TV...
Companies mentioned in this report are: CSG Systems International 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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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