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04.12.2013 21:36:00
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Open Text Corp. -- Moody's confirms Open Text's Ba1 corporate family rating; revises outlook to negative
New York, December 04, 2013 -- Moody's Investors Service revised Open Text Corp.'s outlook to negative and confirmed its Ba1 corporate family rating. Moody's also assigned Ba1 ratings to the company's proposed $800 million senior secured term loans and confirmed the company's existing Ba1 ratings on its existing secured loan facilities. The new loans will be used along with cash on hand and seller equity to finance the acquisition of GXS Group, Inc. The ratings confirmation concludes the ratings review initiated when the transaction was announced.
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