NEW YORK (S&P Global Ratings) Nov. 3, 2016--S&P Global Ratings today announced its 'BB+' corporate credit rating and issue-level ratings on Atlanta-based payment technology provider Global Payments Inc. are unaffected by the company's announced issuance of an additional term loan and extension of outstanding maturities, which do not increase the amount of outstanding debt. The company is applying proceeds of the transaction to redeem a portion of its existing term loan B and revolving credit facility. The '2' recovery rating on the first-lien debt is unchanged and indicates our expectation for substantial (70% to 90%; lower half of the range) recovery of principal in the event of default.
