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Verint Systems Inc. -- Moody's Upgrades Verint to Ba2

Moody's Investors Service ("Moody's") upgraded Verint Systems Inc.'s Corporate Family Rating to Ba2 from Ba3 and Probability of Default Rating to Ba2-PD from Ba3-PD. Verint's Ba2 Corporate Family Rating is reflects the company's strong market positions in the workforce engagement management software industry and video, communications and cyber security systems industries. The ratings also reflect its moderately high leverage (approximately 3.8x at April 30, 2019) which is offset by strong free cash flow to debt metrics (approximately 22% at April 30, 2019).