Nov 28 - Standard & Poor's Ratings Services said today that NCR Corp.'s
proposed $650 million (net of acquired cash) purchase of Retalix will
not affect its 'BB+' corporate credit rating or stable outlook on NCR. NCR is a
global provider of self-service solutions that helps businesses connect,
interact, and transact with their customers. Retalix provides point-of-sale and
enterprise resource planning (ERP) software focused on grocery, convenience, and
food distribution businesses and will help solidify NCR's position in the retail
segment. NCR will fund the purchase with a combination of cash and borrowings.
While leverage will temporarily increase to the mid-3x level on a pro forma
basis as a result of the merger, we expect synergies and EBITDA growth to lead
to an eventual decline in leverage back to the low-3x area. The corporate credit
rating on NCR reflects our view of its financial risk profile as "significant"
and its business risk profile as "satisfactory".