Novitex Enterprise Solutions -- Moody's upgrades Novitex's first lien term loan rating to B1 on structure change; other ratings affirmed

New York, July 02, 2014 -- Moody's Investors Service (Moody's) upgraded the ratings on Novitex Enterprise Solutions' (Novitex) proposed first lien senior secured credit facilities to B1 from B2. The upgrade is driven by a higher proportion of second lien term debt in the company's revised refinancing plan, which provides more junior capital support to the first lien debt. As part of the rating action, Moody's affirmed all other ratings. The rating outlook is stable. At the conclusion of the proposed refinancing, Moody's will withdraw the existing term loan ratings.

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