S&P revises Broadridge Financial view to negative

S&P said it revised its outlook on Broadridge Financial Solutions Inc. to negative from stable.

Broadridge announced it has signed a definitive agreement to acquire Sweden-based Itiviti for €2.143 billion.

The acquisition is expected to be entirely debt-funded, and S&P said it expects the company's pro forma adjusted debt leverage will rise above S&P’s 2x downgrade trigger, to the high 3x area at transaction close.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.