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BMC Software Inc. $500M Senior Unsecured Notes Assigned 'BBB+' Rating Feb 12
Standard & Poors, Feb 2012
Abstract
New York (Standard & Poor's) Feb. 8, 2012--Standard & Poor's Ratings Services said today that it assigned its 'BBB+' issue-level rating to Houston-based BMC Software Inc.'s $500 million senior unsecured notes due 2022. Our 'BBB+' corporate credit rating on BMC remains unchanged, as does the stable rating outlook. BMC's investment-grade rating reflects the company's 'satisfactory' business risk profile and 'intermediate' financial risk profile (as defined in our criteria). The firm's modest leverage is offset by a concentrated earnings base, a very competitive marketplace, and the presence of larger and more diversified competitors. BMC is a leading provider of systems management software solutions on mainframe and distributed platforms. Predictable recurring revenues from contractual maintenance agreements, a highly defensible market position, and...
Companies mentioned in this report are: BMC Software Inc.
Action: New Rating
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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