S&P lifts Reynolds & Reynolds

Standard & Poor's said it raised its corporate credit rating on Reynolds & Reynolds Co. to BB from BB-.

The outlook is stable.

Additionally, S&P revised its issue-level rating on the first-lien facility to BBB- from BB+.

"The upgrade reflects the company's improved operating efficiency and debt reduction, leading to leverage at the high-2x area, which is moderate for the rating," S&P credit analyst David Tsui said in a news release.

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