Corel Corporation http://www.alacrastore.com/company-snapshot/Corel_Corporation-1026166 Friday, August 29, 2008 11:33:25 PM 1026166 Corel Corporation en AlacraStore RSS Builder 1.0 30 CANADA - In August ####, Corel Corp a developer of graphics and digital imaging software, announced that it was seeking a buyer for the company.8/22/2008 11:30:40 AM81572I21869X81572I92297MSeeking BuyerCorel CorpSeeking BuyerVector Capital Corphttp://www.alacrastore.com/storecontent/Thomson_M%26A/Vector_Capital_Corp_seeking_buyer_for_Corel_Corp-2006054040sdc/20060540402006054040Copyright © 2008, Thomson Financial, All Rights ReservedInvestment & Commodity Firms,Dealers,ExchangesUnknownInvestors, nec6799UNUnknownPrivate6799:Investors, nec6799:Investors, necNasdaqPrepackaged SoftwareCanadaPrepackaged Software7372FFForeignPublicCREL12029001Seeking buyerPrivate eq firmNot ApplicableCommon Stock142853004Aug 22 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.00000Seeking buyerSeeking buyerSeeking buyer1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.00000Corel Corp, located in Ottawa,Ontario, develops graphics anddigital imaging software forconsumers and small businessessold in over 75 countriesthrough an internationalnetwork or resellers andretailers, original equipmentmanufacturers (OEMs), andCorel's global websites. Itsbrands include CorelDraw(R)Graphics Suite, Corel(R)WordPerfect(R) Office,WinZip(R), Corel(R) PaintShop(R) Pro, Corel(R)DESIGNER(TM), and CorelPainter(TM). The company wasfounded in 1999.Corel Corp, located in Ottawa, Ontario, develops graphicsand digital imaging software for consumers and smallbusinesses sold in over 75 countries through aninternational network or resellers and retailers, originalequipment manufacturers (OEMs), and Corel's global websites.Its brands include CorelDraw(R) Graphics Suite, Corel(R)WordPerfect(R) Office, WinZip(R), Corel(R) Paint Shop(R)Pro, Corel(R) DESIGNER(TM), and Corel Painter(TM). Thecompany was founded in 1999.Corel Corp, located in Ottawa, Ontario, develops graphics and digital imaging software for consumers and small businesses sold in over 75 countries through an international network or resellers and retailers, original equipment manufacturers (OEMs), and Corel's global websites. Its brands include CorelDraw(R) Graphics Suite, Corel(R) WordPerfect(R) Office, WinZip(R), Corel(R) Paint Shop(R) Pro, Corel(R) DESIGNER(TM), and Corel Painter(TM). The company was founded in 1999.0.000000.000000.0000025.63000N20 Aug 08Wed, 20 Aug 2008 00:00:00 ESTDate Announced: 08/20/2008Date Effective:MergerFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.00000CANADA - In August 2008, CorelCorp a developer of graphicsand digital imaging software,announced that it was seekinga buyer for the company.CANADA - In August 2008, Corel Corp a developer of graphics and digital imaging software, announced that it was seeking a buyer for the company.CANADA - In August 2008, Corel Corp a developer of graphics and digital imaging software,announced that it was seeking a buyer for the company.CANADA - In August 2008, Corel Corp a developer of graphics and digital imaging software, announced that it was seeking a buyer for the company.CANADA - In August 2008, Corel Corp a developer of graphics and digital imaging software, announced that it was seeking a buyer for thecompany.S Buyer0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:S Buyer-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000007372:Prepackaged Software7375:Information retrieval services12029001Unknown6799UnknownPrivate6799:Investors, nec781767001United States6799CaliforniaPrivate0.000000.000000.000000.00000Deal InformationThomson Financial Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/spcred/666120spcred/666120normThe latest Research Update from S&Pglobal8/19/2008 3:25:49 PM175Research Update666120CanadaApplication SoftwareCanadaGlobal IssuersCorporationsHigh TechnologyResearch UpdateOn Aug. 19, 2008, Standard&Poor's Ratings Services kept its ratings on Ottawa-based packaged software provider Corel Corp., including its 'B' long-term corporate credit and senior secured debt ratings, on CreditWatch with negative implications where they were placed March 31, 2008. The recovery rating on the senior secured debt is unchanged at '3'. The ratings were initially placed on CreditWatch following the announcement of an unsolicited bid by Cayman Islands-based Corel Holdings L.P. (CHLP) to acquire all of Corel's common shares outstanding that it doesn't hold already. However, on Aug. 18, CHLP announced that it will withdraw its offer so Corel can pursue alternative methods of maximizing shareholder value; CHLP is controlled by an affiliate of San Francisco-based privateCAN21868E45103010 451030 4510 45Corel Corp.385281CANCOR@CNRESUPDGLOBISSCORPHighCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/666119spcred/666119normThe latest News from S&Pglobal8/19/2008 3:25:49 PM100News666119CanadaApplication SoftwareCanadaGlobal IssuersCorporationsHigh TechnologyNewsTORONTO (Standard&Poor's) Aug. 19, 2008--Standard&Poor's Ratings Services today said it kept its ratings on Ottawa-based packaged software provider Corel Corp., including its 'B' long-term corporate credit and senior secured debt ratings, on CreditWatch with negative implications where they were placed March 31, 2008. The recovery rating on the senior secured debt is unchanged at '3'. The ratings were initially placed on CreditWatch following the announcement of an unsolicited bid by Cayman Islands-based Corel Holdings L.P. (CHLP) to acquire all of Corel's common shares outstanding that it doesn't hold already. However, on Aug. 18, CHLP announced that it will withdraw its offer so Corel can pursue alternative methods of maximizing shareholder value; CHLP is controlled by anCAN21868E45103010 451030 4510 45Corel Corp.385281CANCOR@CNNEWSGLOBISSCORPHighCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/newstex/BW-0001-26092726newstex/BW-0001-26092726xml Jun. ##, #### (Business Wire) -- Corel Corporation (NASDAQ:CREL)(TSX:CRE), a leading developer of graphics, productivity and digital media software, today announced that it will issue its earnings release for the second quarter before...0400000004003000040030050401600004016048040160186/19/2008 9:25:57 AM180000001800400018008000Business WireBW-0001-26092726COREL CORPCRECRELNewsNewstexhttp://www.alacrastore.com/storecontent/moodys/CMT_0000436822moodys/CMT_0000436822htmlGlobal Credit Research Issuer Comment ## MAY #### Issuer Comment: Corel Corp. Moody's Comments on Corel's Liquidity In Moody's opinion, Corel Corporation (B# CFR, Outlook Positive, SGL-#) should continue to have good liquidity over...5/17/2008 12:34:00 AMhtmlCorel Corp.Corel Corp.808051359150.0000NewsIssuer CommentCMT_0000436822Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_808051359moodys/COP_808051359htmlGlobal Credit Research Credit Opinion ## MAY #### Credit Opinion: Corel Corp. Corel Corp. Ottawa, Ontario, Canada Ratings Category Moody's Rating Outlook Positive Corporate Family Rating B# Sr Sec Bank Credit Facility B#/LGD# Speculative...5/15/2008 12:29:52 AMhtmlCorel Corp.Corel Corp.808051359150.0000NewsCredit OpinionCOP_808051359Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/bir/439294bir/439294normCorel Corp.Micrografx Inc.SoftQuad Software Ltd.JASC Software Inc.GraphicCorpCanadaServices: Develops construction, desktop publishing, video, health, legal, word processing, communications and system utilities software.73725112109FICREL4/26/2008 6:15:00 AM439294Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/spcred/640097spcred/640097normThe latest Research Update from S&P3/31/2008 1:24:37 PMResearch Update175global640097CanadaApplication SoftwareCanadaGlobal IssuersCorporationsHigh TechnologyResearch UpdateOn March 31, 2008, Standard&Poor's Ratings Services placed its 'B' long-term corporate credit and senior secured debt ratings on Ottawa-based packaged software provider Corel Corp. (Corel) on CreditWatch with negative implications. The recovery rating on the senior secured debt is unchanged at '3'. The CreditWatch placement follows the unsolicited bid by Cayman Islands-based Corel Holdings L.P. (CHLP) to acquire all of Corel's common shares outstanding that it doesn't hold already for a price of US$11 per share. CHLP is controlled by an affiliate of San Francisco-based private equity investment company Vector Capital Corp. CHLP has indicated that its offer is conditional upon, among other things, confirmed satisfactory due diligence and Corel's existing credit facility remaining in place followingCAN21868E45103010 451030 4510 45Corel Corp.385281CANCOR@CNRESUPDGLOBISSCORPHighCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/640096spcred/640096normThe latest News from S&P3/31/2008 1:24:37 PMNews100global640096CanadaApplication SoftwareCanadaGlobal IssuersCorporationsHigh TechnologyNewsTORONTO (Standard&Poor's) March 31, 2008--Standard&Poor's Ratings Services today said it placed its 'B' long-term corporate credit and senior secured debt ratings on Ottawa-based packaged software provider Corel Corp. (Corel) on CreditWatch with negative implications. The recovery rating on the senior secured debt is unchanged at '3'. The CreditWatch placement follows the unsolicited bid by Cayman Islands-based Corel Holdings L.P. (CHLP) to acquire all of Corel's common shares outstanding that it doesn't hold already for a price of US$11 per share. CHLP is controlled by an affiliate of San Francisco-based private equity investment company Vector Capital Corp. CHLP has indicated that its offer is conditional upon, among other things, confirmed satisfactory due diligence and Corel's existing creditCAN21868E45103010 451030 4510 45Corel Corp.385281CANCOR@CNNEWSGLOBISSCORPHighCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/SGL_0808051359moodys/SGL_0808051359htmlSpec Grade Liquidity Assmt1/3/2008 7:55:22 PMGlobal Credit Research Spec Grade Liquidity Assmt ## MAR #### Spec Grade Liquidity Assmt: Corel Corp. Corel Corp. Moody's Investors Service first assigned to Corel Corporation (`Corel') a speculative grade liquidity rating of SGL-#...Corel Corp.808051359300.0000AnalysishtmlCorel Corp.SGL_0808051359Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/613268spcred/613268normThe latest Full Report from S&P11/14/2007 3:39:02 PMFull Report400global613268CanadaApplication SoftwareCanadaGlobal IssuersCorporationsHigh TechnologyFull ReportMarket recognition as a provider of software products with good value Large and diverse installed base with healthy product and geographic diversity Meaningful recurring revenues Healthy profitability and meaningful free cash flow generation Moderate debt leverage Highly competitive packaged software industry Weak market position given strong competitors; very limited pricing power Limited track record of profitability Acquisitive growth strategy Financial sponsor has majority ownership The ratings on Ottawa-based packaged software provider Corel Corp. reflect the company's weaker-than-expected operating performance for the nine months ended Aug. 31, 2007, and limited visibility that it can meaningfully improve its operating cash flows in the next 12 months despite several product releases under way. Specifically, in the nine months ended Aug. 31, 2007, CorelCAN21868E45103010 451030 4510 45Corel Corp.385281CANCOR@CNFULLGLOBISSCORPHighCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/613271spcred/613271normThe latest Summary from S&P11/14/2007 3:39:02 PMSummary175global613271CanadaApplication SoftwareCanadaGlobal IssuersCorporationsHigh TechnologySummaryThe ratings on Ottawa-based packaged software provider Corel Corp. reflect the company's weaker-than-expected operating performance for the nine months ended Aug. 31, 2007, and limited visibility that it can meaningfully improve its operating cash flows in the next 12 months despite several product releases under way. Specifically, in the nine months ended Aug. 31, 2007, Corel reported a mid-single-digit decline in organic revenues with weak performance at both high-margin Corel on a stand-alone basis (67% of pro forma revenues; negative 3.7% year-over-year) and InterVideo Inc. (33% of revenues; high single-digit year-over-year decline). Nevertheless, discretionary free cash flow generation, while below our expectations of US$40 million for fiscal 2007, remains substantive and offers solid support for the ratings. The ratings alsoCAN21868E45103010 451030 4510 45Corel Corp.385281CANCOR@CNSUMMARYGLOBISSCORPHighCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/612952spcred/612952normThe latest News from S&P11/13/2007 1:00:23 PMNews100global612952CanadaApplication SoftwareCanadaGlobal IssuersCorporationsHigh TechnologyNewsTORONTO (Standard&Poor's) Nov. 13, 2007--Standard&Poor's Ratings Services today said it revised its outlook on Ottawa-based packaged software provider Corel Corp. to stable from positive. At the same time, we affirmed the ratings, including the 'B' long-term corporate credit rating, on the company. At Aug. 31, 2007, Corel had US$169 million of debt outstanding. "The outlook revision reflects the company's weaker-than-expected operating performance for the nine months ended Aug. 31, 2007, and limited visibility that it can meaningfully improve its operating cash flows in the next 12 months despite several product releases under way," said Standard&Poor's credit analyst Madhav Hari. Specifically, in the nine months ended Aug. 31, 2007, Corel reported a mid-single-digit decline inCAN21868E45103010 451030 4510 45Corel Corp.385281CANCOR@CNNEWSGLOBISSCORPHighCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/612953spcred/612953normThe latest Research Update from S&P11/13/2007 1:00:23 PMResearch Update175global612953CanadaApplication SoftwareCanadaGlobal IssuersCorporationsHigh TechnologyResearch UpdateOn Nov. 13, 2007, Standard&Poor's Ratings Services revised its outlook on Ottawa-based packaged software provider Corel Corp. to stable from positive. At the same time, we affirmed the ratings, including the 'B' long-term corporate credit rating, on the company. At Aug. 31, 2007, Corel had US$169 million of debt outstanding. The outlook revision reflects the company's weaker-than-expected operating performance for the nine months ended Aug. 31, 2007, and limited visibility that it can meaningfully improve its operating cash flows in the next 12 months despite several product releases under way. Specifically, in the nine months ended Aug. 31, 2007, Corel reported a mid-single-digit decline in organic revenues with weak performance at both high-margin Corel on a stand-alone basisCAN21868E45103010 451030 4510 45Corel Corp.385281CANCOR@CNRESUPDGLOBISSCORPHighCredit & Investment ResearchS&P Credit Research