S&P puts Banff Parent on watch

S&P said it placed its ratings on Banff Parent Inc. (BMC Software) on CreditWatch with negative implications.

The CreditWatch placement reflects S&P’s belief the weaker macroeconomic and information technology spending environment will weigh on the IT infrastructure software provider's operating results, which could lead the agency to take a negative rating action on the company.

“We plan to resolve the CreditWatch after we review BMC's business prospects, integration plan, capital structure, and financial policy with management at a later date,” said S&P in a press release.

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