...June 2, 2025 This report does not constitute a rating action. BOSTON (S&P Global Ratings) June 2, 2025--S&P Global Ratings today said that RealPage Inc.'s disclosure that it will not file its audited financials for 2024 within the expected timeframe (by May 30, 2025) does not affect its credit quality. The company's delay is due to accounting policy changes that require a restatement of 2023 and 2022 financial results. We understand historical revenue was slightly understated and the presentation of customer in-transit funds receivables and payables on the balance sheet will be updated. Our ratings on RealPage are unchanged as we believe these issues causing the delayed filing are immaterial to the company's credit metrics. The company said it will file its 2024 audit for lenders within the 30-day cure period provided by its credit agreement. However, we will continue to monitor the situation closely, including indications of further delays that could require RealPage to seek waiver extensions...
