S&P Global Ratings Upgrades Unit4 Credit Rating and Issues Positive Outlook
London, UK, March 14, 2024 – Unit4, a leader in enterprise cloud applications for people-centric organizations, today announced that S&P Global Ratings has upgraded Unit4’s credit rating based on a number of key factors, including improved operating performance and credit metrics. At the same time, S&P issued a positive outlook for the business.
S&P Global Ratings is a credit rating agency and a division of S&P Global, which publishes financial research and analysis on stocks, bonds, and commodities, as well as independent credit ratings.
The change in credit metric, from CCC+ to B-, reflects Unit4’s improved operating performance in 2023.
Matt Bagley, Chief Financial Officer, Unit4 said, “We are delighted to have had our credit rating upgraded and secured a positive outlook by S&P Global Ratings. This validates our growth and efficiency strategies and underscores the steps which Unit4 has taken to support customers as they transition to our SaaS-based offerings. The shift to SaaS has driven our growth in cloud revenue transforming Unit4 to a recurring revenue business model.”
Over the past couple of years, we have evolved our strategy and this rating is testament not only to the success of our business model and continued investment, but to the efforts of our Unit4 colleagues.
Mike Ettling
CEO, Unit4
“Over the past couple of years, we have evolved our strategy and this rating is testament not only to the success of our business model and continued investment, but to the efforts of our Unit4 colleagues. We are committed to helping our customers as they digitize their operations and move to the Cloud,” said Mike Ettling, CEO, Unit4.
-ends-
About Unit4
Unit4's next-generation enterprise resource planning (ERP) solutions power many of the world's mid-market organizations, bringing together the capabilities of Financials, Procurement, Project Management, HR, and FP&A to share real-time information, and deliver greater insights to help organizations become more effective. By combining our mid-market expertise with a relentless focus on people, we've built flexible solutions to meet customers' unique and changing needs. Unit4 serves more than 5,100 customers globally across a number of sectors including professional services, nonprofit and public sector, with customers including Migros Aare, Southampton City Council, Metro Vancouver, Durham Catholic District School Board, Buro Happold, Peab, North Sea Port Netherlands, Save the Children International, Global Green Growth Institute and Oxfam America. For further information visit www.unit4.com.
For more information, please visit https://www.unit4.com/, follow us on Twitter @Unit4global, Facebook: Unit4 Business Software, Instagram: @unit4global or visit our YouTube: Unit4 and LinkedIn page.
Press Contact
Lisa Stassoulli
Global Communications Manager
[email protected]
+44 (0)7870 916827