MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it
affirmed its 'BB-' corporate credit rating on Epicor Software Corp, and revised
the outlook to negative from stable reflecting the company's increased pro forma
leverage associated with its plan to acquire UK-based NSB Retail Systems PLC for
about 160 mln stg.
"At the same time, we lowered our senior unsecured rating to 'B' from 'B+',
reflecting the increased amount of secured debt expected to be in the capital
structure," the ratings agency said.
The ratings on Epicor reflect the company's second-tier presence in a highly
competitive and consolidating industry, integration risk, and high financial
leverage for the rating.
TFN.newsdesk@thomson.com
yos/ukn
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|