New York, November 07, 2016 -- Moody's Investors Service ("Moody's") downgraded Greeneden U.S. Holdings II, LLC's ("Genesys") Corporate Family Rating (CFR) to B3 from B2 and Probability of Default Rating ("PDR") to B3-PD from B2-PD. Moody's also confirmed the ratings of the company's existing first lien credit facility at B2 based on the expectation that this debt will be repaid upon closing of the company's anticipated debt refinancing. The rating action concludes Moody's review of the company's ratings for downgrade initiated on September 1, 2016 following the announcement of Genesys' plans to purchase Interactive Intelligence Group Inc. ("ININ") for approximately $1.4 billion in a largely debt financed transaction. Moody's assigned a B2 rating to the company's proposed first lien credit facility, comprised of a $150 million revolver, a $1.55 billion dollar denominated term loan, and a $550 million euro-denominated term loan. Moody's expects Genesys to issue an additional $700 million of unsecured debt to complete the funding of the transaction in the near term. Moody's will withdraw the ratings on the company's existing first lien credit facility upon completion of the planned financing. The ratings outlook is stable.

Vollständigen Artikel bei Moodys lesen