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Prospector
Profile
07.1473
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| Ceridian Corporation |
NAICS |
541611 |
| 3311 East Old Shakopee Road
Minneapolis, MN 55425 |
Description |
Management Services |
| (952) 853-8100 |
Employees |
8986 |
| http://www.ceridian.com |
Revenue |
(mil) |
1565.1000 |
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Income |
(mil) |
173.6000 |
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Assets |
(mil) |
6934.4000 |
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Liability |
(mil) |
5563.2000 |
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(for the year ended 2006-12-31) |
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Category:
Low Rating
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Event:
Standard & Poor's Ratings Services assigned its 'CCC+' rating to Ceridian Corp.'s $1 billion senior unsecured notes (to be comprised of $600 million unsecured notes due 2015 and $400 million unsecured payment-in-kind toggle notes due 2015), and $300 million of senior subordinated notes. The debt is rated 'CCC+', two notches below the corporate credit rating, because of the amount of priority debt in the capital structure. Issue proceeds will be used to partially fund the $5.2 billion acquisition by sponsors Thomas H. Lee Partners L.P. and Fidelity National Financial Inc. "The ratings on Ceridian reflect a very aggressive capital structure, offset by predictable recurring revenue streams with defensible market positions," said Standard & Poor's credit analyst Phil Schrank.
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Intellectual Property:
The Company owns or licenses a number of trademarks, tradenames, copyrights, service marks, trade secrets and other intellectual property rights that relate to its products and services. “Ceridian” and “Comdata” names, marks and logos are of material importance to the Company. In addition, the Company has entered into license agreements with customers of its businesses, which agreements impose restrictions on these customers’ use of proprietary software and other intellectual property rights. [SEC Filing 10-K 02-28-07]
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Description:
The Company provides services to the human resource, transportation, and retail markets in the United States, Canada, and the United Kingdom.
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Officers:
Kathryn V. Marinello (Pres. & CEO); Perry H. Cliburn (EVP & CTO); Gary A. Krow (EVP); Douglas C. Neve (CFO)
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Auditor:
KPMG LLP
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Securities:
Common Stock Symbol CEN; NYSE;
144,171,551 common shares outstanding as of July 31, 2007.
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