Magic Newco LLC -- Moody's downgrades Misys's senior secured debt to B1; B2 CFR affirmed; negative outlook

London, 13 November 2013 -- Moody's Investors Service today downgraded, to B1 from Ba3, the Term Loan B issued by Magic Newco LLC (USD tranche) and Magic Newco 5 S.a.r.l. (EUR tranche), and the Revolving Credit Facility (RCF) raised by Magic Bidco Limited. Moody's also affirmed the B2 corporate family rating (CFR) and B2-PD probability of default rating (PDR) of Misys Newco 2 S.a.r.l. (Misys or the company), and the Caa1 rating of the Second Lien Term Loan issued by Magic Newco LLC. Concurrently, Moody's changed the outlook on all ratings of Misys to negative from stable.

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