Moody's cuts Triple Point, loans

Moody's Investors Service said it downgraded Triple Point Group Holdings, Inc.'s debt ratings, including the corporate family rating to Caa1 from B3, the probability of default rating to Caa1-PD from B3-PD, the senior secured first-lien revolving credit facility due 2018 and term loan due 2020 ratings to B3 from B2 and the senior secured second-lien term loan due 2021 rating to Caa3 from Caa2.

The outlook is stable.

"Unexpected and significant deterioration in 2013 software license sales and a greatly diminished software license sales pipeline lead us to expect neither revenue growth nor debt reduction in 2014," Moody's senior analyst Edmond DeForest said in a news release.

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