Moody's: UGS unaffected

Moody's Investors Service said the Ba2 secured bank debt and B3 subordinated debt ratings of UGS Corp. are not immediately affected by the company's announcement that its private equity owners have agreed to sell the company to Siemens AG for $3.5 billion plus assumption of outstanding UGS debt.

Should UGS' bonds be left in place, the agency said it anticipates that there would be positive ratings pressure due to the credit strength of Siemens.

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