Moody's Downgrades ADP's (ADP) Issuer Rating to 'Aa3'; Outlook Stable
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ADP Announces Intention to Initiate a $2.0 Billion Debt Offering at a Future Date; Authorized to Purchase an Additional 25 Million Shares of Its Common Stock Contingent Upon Offering's Completion
August 28, 2015 7:30 AM EDTROSELAND, N.J., Aug. 28, 2015 (GLOBE NEWSWIRE) -- ADP® (Nasdaq: ADP), a leading global provider of Human Capital Management (HCM) solutions, today announced its intention to initiate a public offering of $2.0 billion in debt securities at a future date, subject to market and business conditions and other prevailing factors. ADP filed a registration statement on Form S-3 with the Securities and Exchange Commission in anticipation of this debt offering.
Contingent upon the offering's completion, the board of directors of ADP has authorized the purchase of an additional 25 million shares of its common stock. ADP... More
