Moody's rates JDA loan B1

Moody's Investors Service said it assigned a B1 corporate family rating and B1 ratings to JDA Software Group's proposed $50 million six-year first lien senior secured revolver and $175 million first-lien term loan B.

Moody's also said it assigned a SGL-1 speculative grade liquidity rating, reflecting very good liquidity.

The outlook is stable.

Moody's said the B1 corporate family ratings are constrained by the significant restructuring and integration risk associated with the acquisition of Manugistics and long-term deterioration of Manugistics' business.

The ratings also acknowledge the long track record and strong market position of JDA within the retail industry, modest leverage at the combined companies and management's experience integrating acquisitions, the agency noted.

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