Moody’s rates Tibco loans B1

Moody's Investors Service said it affirmed Tibco Software Inc.'s B3 corporate family rating, B3-PD probability of default rating and the Caa2 ratings for the company's senior unsecured notes.

Moody's assigned B1 ratings to the company's amended and extended senior secured credit facilities comprising a $125 million revolver and about $1.8 billion of senior secured term loans.

The outlook is stable.

“The rating actions were in connection with Tibco's plans to extend the maturities for its existing senior secured credit facilities,” the agency said in a news release.

Moody’s said the proposed refinancing is debt-neutral and the extension of debt maturities will enhance the company’s liquidity.

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