Credit agencies like latest deal for Tampa tech firm
March 8, 2021 - Two credit agencies say a potential new investment in Syniverse is credit positive for the Tampa technology firm. Syniverse and Twilio (NYSE: TWLO), a cloud communications platform, announced a partnership agreement. Additionally, Twilio said it would invest up to $750 million cash in Syniverse and become a significant minority owner. The Carlyle Group, a private equity firm, will maintain its majority ownership interest in Syniverse, a news release said. S&P Global Ratings said the transaction may eliminate much of Syniverse's $1.9 billion in outstanding debt and improve its liquidity. Moody's Investors Service said the deal also could boost the company's revenue. Syniverse's revenue for the 12 months ending Nov. 30 declined 13.3 percent and its earnings before interest, taxes, depreciation and amortization dropped by 17.5 percent, Moody's said.