01.05.2013 21:38:00
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SumTotal Systems, Inc. -- Moody's says leverage increasing at SumTotal though no immediate impact on B2 CFR or other ratings
New York, May 01, 2013 -- Moody's Investors Service said SumTotal Systems, Inc.'s debt to EBITDA level is expected to increase to the mid 6x range over the next year, though cash levels should be better than planned. The company's B2 corporate family rating is not impacted at this time. Some of the expected increase in calculated leverage is a result of the impact on GAAP reporting as the company shifts more of its business to a subscription model. Please see the latest Issuer Comment on www.moodys.com for additional information.