S&P: Relizon unaffected

Standard & Poor's said Thursday that its ratings and outlook on The Relizon Co. (BB-/stable/--) would not be affected by the sale of The Relizon e-CRM Co., by Relizon Holdings LLC (the parent of Relizon) to Alliance Data Systems (unrated entity) for about $300 million in net proceeds.

While the sale of Relizon e-CRM somewhat narrows Relizon's business diversity, S&P said it expects the company to reduce a modest amount of debt following the completion of the sale. S&P also expects Relizon to maintain credit protection measures that are not meaningfully different from current levels, and that are in line with the current rating.

S&P said Relizon's stable outlook continues to reflect the expectation that the company will fund its operations in a conservative manner. In addition, stability at the current rating level incorporates a balanced approach to funding any potential acquisitions.

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