Moody's: Hyland loans B2

Moody's Investors Service said it affirmed Hyland Software, Inc.'s B2 corporate family rating and the ratings for its existing credit facilities.

Moody's also assigned a B2 rating to the company's proposed $80 million of tack-on first-lien term loans.

The outlook is stable.

Moody's said the proposed increase in debt to finance dividends will raise Hyland's total debt-to-EBITDA leverage by about 1.3x to 4.3x. The transaction effectively reverses the deleveraging attained since the last dividend recapitalization in December 2010, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.