TEXT-S&P assigns SunGard Data Systems 'BB' issue-level rating
Posted on March 23, 2012 at 16:22 PM EDT
March 23 - Standard & Poor's Ratings Services said today that it assigned its 'BB' issue-level rating and '1' recovery rating to Wayne, Pa.-based software and technology services company SunGard Data Systems Inc.'s $905 million extended term loan. The '1' recovery rating indicates that lenders can expect very high (90%-100%) recovery in the event of a payment default. (For the complete corporate credit rating rationale, see the research update on SunGard, published Feb. 17, 2012, on RatingsDirec