Moody's lowers Datatel

Moody's Investors Service said it lowered the ratings of Datatel Inc.

The decision reflects the increased financial leverage as a result of a planned refinancing of its bank acquisition financing that was put in place in 2005 as part of the company's acquisition by a group of investors including Thoma Cressey Equity Partners, Trident Capital, JP Morgan and Harbour Vest, as well as company management and a founder of the company, the agency said.

The refinancing is expected to close this month.

The outlook is stable.

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