| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Micro Focus International plc > News item |
S&P puts Micro Focus on positive watch
S&P said it placed Micro Focus International plc’s BB- issuer rating on CreditWatch with positive implications and affirmed the BB- ratings on its term loans.
Higher-rated Open Text Corp. agreed to buy Micro Focus for about $6 billion. The deal is expected to close in the first quarter of 2023.
“If the acquisition of Micro Focus closes successfully, we expect its credit quality to improve as a result of combining with Open Text. We expect that after the acquisition closes, which we expect to occur in the first quarter of 2023, Micro Focus will benefit from similar credit quality to Open Text (BB+/negative),” S&P said in a press release.
The agency said it did not place the term loan ratings on CreditWatch because it expects Open Text to repay them.
© 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.