On April 20, 2007, Standard&Poor's Ratings Services assigned its 'B' corporate credit rating to Melville, N.Y.-based Verint Systems Inc., a provider of analytic software-based solutions for security and business intelligence. The outlook is developing, meaning the ratings could be revised upward or downward because the company is not current on its SEC filings as a result of an investigation at Comverse Technology Inc., its majority shareholder, for backdating stock-option grants and certain accounting matters and related internal investigation at Verint. At the same time, we assigned our 'B' bank loan rating (the same as the corporate credit rating), and '3' recovery rating to the company's proposed $675 million first-lien credit facility, indicating that lenders can expect meaningful (50%-80%)
