NEW YORK (Standard&Poor's) Sept. 4, 2007--Standard&Poor's Rating Services said today it raised its corporate credit rating on Westlake, Ohio-based Hyland Software Inc. to 'B+' from 'B', following the close of the company's secured credit facilities, reflecting revised and reduced debt levels. The outlook is stable. At the same time, we raised our bank loan ratings on the company's $119 million bank financing. The first-lien facility, which comprises a $20 million revolving credit facility and an $80 million term loan B, is rated 'BB', two notches above the corporate credit rating, with a recovery rating of '1', indicating the expectation of very high (90%-100%) recovery in the event of a payment default. The $19 million second-lien term
