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Unit4 Outlook Rating Increased by Moody’s Investor’s Services

London, UK

February 27, 2024

Rating changed to positive


London, UK,  February 27, 2024Unit4, a leader in enterprise cloud applications for people-centric organizations, today announced that Moody’s Investors Service (Moody’s) has changed Unit4 Group Holding B.V.’s outlook rating to positive from stable.

Moody's Investors Service provides credit ratings for companies, governments, and the securities they issue and, as such, investors across the globe pay close attention to the ratings that Moody's assigns.

The change in outlook to positive from stable reflects Unit4’s strong performance in 2023.

Speaking about the change in outlook, Matt Bagley, Chief Financial Officer, Unit4 said, “We are pleased to have had our outlook changed to positive from stable by Moody’s. 2023 was a pivotal year which saw the company growing both revenue and profitability, as customers look to transform their businesses and move to the Cloud. Recurring revenue now represents 79% of the company’s revenue, improving the predictability of EBITDA and cash flow.”

The transformation to recurring revenue demonstrates our strategy to being a true software-as-a-service (SaaS) business.

Mike Ettling

CEO, Unit4

“The transformation to recurring revenue demonstrates our strategy to being a true software-as-a-service (SaaS) business. Demand for our cloud-based solutions continues to grow, bolstered by our strong position and reputation in the midmarket segment, and we look forward to continuing on this positive trajectory,” said Mike Ettling, CEO, Unit4.




About Unit4

Unit4's next-generation enterprise resource planning (ERP) solutions power many of the world's mid-market organizations, bringing together the capabilities of Financials, Procurement, Project Management, HR, and FP&A to share real-time information, and deliver greater insights to help organizations become more effective. By combining our mid-market expertise with a relentless focus on people, we've built flexible solutions to meet customers' unique and changing needs. Unit4 serves more than 5,100 customers globally across a number of sectors including professional services, nonprofit and public sector, with customers including Migros Aare, Southampton City Council, Metro Vancouver, Durham Catholic District School Board, Buro Happold, Peab, North Sea Port Netherlands, Save the Children International, Global Green Growth Institute and Oxfam America. For further information visit

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Press Contact

Lisa Stassoulli
Global Communications Manager
[email protected]
+44 (0)7870 916827

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