Moody’s eyes Itiviti for upgrade

Moody’s Investors Service said it placed Itiviti Group Holding AB’s ratings on review for upgrade, including the B2 ratings on its first-lien bank loans. Before the change, Itivit’s outlook was stable.

The review follows the announcement that Broadridge Financial Solutions Inc. agreed to acquire the company for an enterprise value of about €2.1 billion, the agency said.

“The acquisition of Itiviti by Broadridge is credit positive as the company will be owned by a much larger group of significant financial strength. The repayment of the outstanding term loans is expected and, hence, the stand-alone financial profile of Itiviti will improve,” Moody’s said in a press release.

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