NEW YORK (Standard&Poor's) July 24, 2007--Standard&Poor's Ratings Services said today that its ratings and outlook on Westlake, Ohio-based Hyland Software Inc. (B/Positive/--) remain unchanged, despite a revised capital structure that lowers operating-lease-adjusted debt to EBITDA from 5.3x to 4.7x. If, however, the transaction is closed under the terms of the revised capital structure, we would raise our corporate credit rating on the company to B+/Stable/--. Hyland Software provides ECM software solutions that enable organizations to manage, control, and share unstructured content (i.e., text, images, e-mails, digital content, etc.) The company derives revenues from sale of software licenses and by providing maintenance and professional services.
