Moody's says Cvent's debt increase a negative credit development, ratings unchanged
New York, November 21, 2016-- Moody's Investors Service said the increase by $73 million or about 10% in the amount of debt, and similar reduction in cash equity, used to fund the acquisition of Cvent, Inc. by affiliates of Vista Equity Partners is a negative credit development; however, the B3 Corporate Family rating, B3-PD Probability of Default rating, B1 1st lien debt rating and Caa2 2nd lien debt rating, as well as the stable ratings outlook, are unchanged at this time.
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