Open Text Corp. -- Moody's places Open Text's ratings on review for downgrade

New York, September 12, 2016 -- Moody's Investors Service ("Moody's") placed all of Open Text Corporation's credit ratings, including its Ba1 corporate family rating (CFR), on review for downgrade. The review was prompted by the company's announcement that it entered into an agreement to acquire certain software assets from EMC Corporation (a subsidiary of Dell, Inc., Ba1, stable) for $1.65 billion of cash consideration. There is no publicly available information on the acquired assets and details of the final capital structure have not been disclosed. The transaction is expected to close in the next 90-120 days. The SGL-1 speculative grade liquidity rating is unchanged but may be lowered depending upon the company's expected liquidity position upon the close of the acquisition.

Vollständigen Artikel bei Moodys lesen