New York, August 7 (FinanceEnquiry.com) – Analysts at Moody’s Investors Service rates the proposed senior unsecured notes as Baa3, raised the senior secured debt’s ratings from Baa3 to Baa2 and affirmed the Ba2 corporate family rating of Nuance Communications Inc (NASDAQ: NUAN). The outlook on the rating has been stable.
In a research note published yesterday, the analysts mention that the Ba2 rating indicates its leading position within the voice recognition industry, the favorable growth profile of the company and industry and the solid cash flow generating capabilities of the company.
The ratings remain tempered by the company’s acquisition appetite as it attempts to further build out its portfolio of speech recognition applications and services.
The ratings on the senior secured facilities have been raised and moved upwards from Baa3 to Baa2 in order to indicate the reduced proportion of secured debt in the capital structure of the new unsecured notes, the analysts say.
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