NEW YORK (S&P Global Ratings) June 12, 2017--S&P Global Ratings said today that its ratings and outlook on Melville, N.Y.-based security and business intelligence solutions provider Verint Systems Inc. (BB/Stable/--) are unaffected by Verint's proposed refinancing transaction, which includes repricing and maturity extension for its outstanding senior secured term loans and revolving credit facility. The 'BBB-' issue-level and '1' recovery ratings on the company's senior secured debt, which includes a new term loan B, and revolving credit facility are also unaffected. While the refinancing will modestly reduce Verint's interest expense, adjusted leverage will remain essentially unchanged following the transaction. Only a rating committee may determine a rating action and this report does not constitute a rating action.
