S&P puts Infor on positive watch

S&P said it placed all its ratings for Infor Inc. on CreditWatch with positive implications following the announcement Koch Equity Development LLC has agreed to acquire the remaining 30% equity stake in the company held by Golden Gate Capital, making Infor a wholly owned subsidiary of Koch Industries.

“The CreditWatch placement reflects our view of the potential implied support Infor may receive from Koch consistent with Koch's approach to its other subsidiaries, such as Molex Electronic Technologies LLC, Invista Equities LLC, and Guardian Industries Resources LLC. Additionally, we believe that Infor's full ownership by Koch Industries may lead it to maintain a more conservative balance sheet given the much lower leverage levels at Koch's other portfolio companies,” said S&P in a press release.

S&P plans to meet with management to discuss its business plans, pro forma capital structure and long-term financial policies.

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