NEW YORK (S&P Global Ratings) Feb. 13, 2023--S&P Global Ratings today said Fidelity National Information Services Inc.'s (FIS, BBB/Stable/A-2) announcement that it plans to spin off the merchant solutions business into a separate, publicly traded entity could keep leverage elevated in the near term. FIS expects to complete the separation by the end of 2023 and the spun-off entity will reclaim the company name Worldpay Inc. Our ratings on the company are not immediately affected. FIS, a provider of global financial services processing technology solutions, acquired Worldpay in 2019. The proposed transaction is part of FIS' strategic review started late last year to maximize shareholder value and allocate capital appropriate for the growth of the separate entities going forward. The
