Moody's says Upland Software's proposed upsized term loan is credit negative, ratings unaffected
Announcement: Moody's says Upland Software's proposed upsized term loan is credit negative, ratings unaffected. Global Credit Research- 14 Nov 2019. New York, November 14, 2019-- Moody's Investors Service says Upland Software, Inc.' s announcement that it intends to upsize its existing term loan by an incremental $150 million is credit negative over the near term because it will immediately increase the company's gross leverage profile to 6.3 x from about 4.5 x.Upland Software provides cloud-based enterprise work management software that enables organizations to plan, manage and execute projects and work. The company's cloud offerings include: Customer Experience Management Cloud, which enables organizations to manage the customer lifecycle from awareness to acquisition to advocacy across various channels; Enterprise Sales and Marketing Cloud, which enables sales and marketing organizations to improve sales activities, digital content production, automate key proposal and reference processes, and track key metrics; and Document Workflow Cloud, which enables enterprises to manage and automate document intensive business processes with data security.
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