The ratings were sought in connection with the term loan component of Epicor's previously announced proposed $200 million credit facility (inclusive of a $25 million accordion feature) being arranged by KeyBank Capital Markets. The proposed facility is intended to refinance Epicor's existing $125 million revolving credit line used primarily to finance its acquisition of CRS Retail Systems, Inc.
"We are quite pleased with the ratings assigned to Epicor by Standard & Poor's and Moody's and view these as a reflection of our leading position as a global provider of enterprise software solutions to the midmarket," said Michael A. Piraino, EVP and Chief Financial Officer of Epicor. "With an excellent track record of revenue growth, considerable liquidity and strong cash flow from operations, we have the resources necessary to achieve both our short term and long-term growth objectives. And importantly, our strong balance sheet provides Epicor with the financial flexibility to actively participate in a rapidly consolidating marketplace."
About Epicor Software Corporation
Epicor is a global leader dedicated to providing integrated enterprise resource planning (ERP), customer relationship management (CRM) and supply chain management (SCM) software solutions to midmarket companies around the world. Founded in 1984, Epicor serves over 20,000 customers in more than 140 countries, providing solutions in 33 languages. Epicor leverages innovative technologies like Web services in developing end-to-end, industry-specific solutions for retail, manufacturing, distribution, enterprise service automation, hospitality and pharmaceutical that enable companies to immediately drive efficiency throughout business operations and build competitive advantage. With the scalability and flexibility to support long-term growth, Epicor's solutions are complemented by a full range of services, providing a single point of accountability to promote rapid return on investment and low total cost of ownership. Epicor's worldwide headquarters are located in Irvine, California with offices and affiliates around the world. For more information, visit www.epicor.com .
Epicor is a registered trademark of Epicor Software Corporation. Other trademarks referenced are the property of their respective owners.
CONTACT: Michael A. Piraino, EVP and Chief Financial Officer of Epicor
Software Corporation, +1-949-585-4595, Email Contact; or Moira Conlon
of Financial Relations Board, +1-310-854-8311,
Email Contact, for Epicor Software Corporation
Web site: http://www.epicor.com/