Moody's on Sept. 10 affirmed the corporate family rating of SS&C Technologies Holdings Inc. at Ba3.
Additionally, the rating agency affirmed the Ba3 rating of the senior secured credit facilities at the company's subsidiaries.
The outlook on the ratings is "stable."
The affirmation is based on Moody's expectation that SS&C's acquisition of IntraLinks Holdings Inc. from affiliates of Siris Capital Group LLC will broaden the company's customer base and add to its portfolio of services secure information sharing technology that could provide cross-selling opportunities.
The affirmation also incorporates SS&C's huge operating scale, substantial free cash flow, and strong history of integrating prior acquisitions and deleveraging quickly after acquisitions.
The stable outlook reflects the rating agency's expectation that the company's free cash flow will be in the high-single-digit percentages of debt over the upcoming 12 to 18 months and that total debt to EBITDA will fall toward 5x by the end of 2019, with credit metrics further bolstering in 2020.