Moody’s upgrades BMC Software to “Baa2″ from “Baa3″

Moody’s upgrades BMC Software to “Baa2″

NEW YORK — Moody’s Investors Service upgraded business software maker BMC Software Inc. on Friday, citing the company’s stability even during slow business periods.

The upgrade reflects BMC’s “strong operating and financial performance throughout the recent downturn” as well as its success in growing and improving the profitability of its non-mainframe business, Moody’s said.

The agency upgraded BMC to “Baa2″ from “Baa3,” and said the outlook for the company’s information technology management software products is favorable.

The ratings outlook is stable.

Shares of BMC rose 38 cents, or 1 percent, to $38.06in afternoon trading.