S&P Global Ratings on Aug. 9 assigned its BB issuer credit rating to SS&C Technologies Holdings Inc., with a negative outlook.
The rating agency noted that pro forma for the acquisition of Eze Software Group LLC, the company will have leverage in the low-5x area. It said this is similar to SS&C's metrics following the company's acquisition of DST Systems Inc. earlier in 2018.
The negative outlook, according to the rating agency, reflects its view of SS&C's continued high leverage, which will remain higher than 5x following completion of the Eze Software deal. S&P added that the outlook also reflects the risks associated with integrating Eze at the same time as the company integrates DST Systems.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings document referred to in this news brief can be found here.