Bulletin: VeriFone Systems Inc. Issue-Level Ratings Are Unchanged On $100 Million Upsize - S&P Global Ratings’ Credit Research

Bulletin: VeriFone Systems Inc. Issue-Level Ratings Are Unchanged On $100 Million Upsize

Bulletin: VeriFone Systems Inc. Issue-Level Ratings Are Unchanged On $100 Million Upsize - S&P Global Ratings’ Credit Research
Bulletin: VeriFone Systems Inc. Issue-Level Ratings Are Unchanged On $100 Million Upsize
Published Aug 09, 2018
2 pages (927 words) — Published Aug 09, 2018
Price Free  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Aug. 9, 2018--S&P Global Ratings said today that its 'B' issue-level rating and '3' recovery rating on VeriFone Systems Inc.'s senior secured first-lien debt and its 'B-' issue-level rating and '5' recovery rating on the company's senior secured second-lien debt are unchanged following the $100 million upsize to the company's planned $1.65 billion first-lien debt (to a total of $1.75 billion). The second-lien debt is reduced to $200 million from the expected $300 million. The recovery estimates of 60% on the first-lien debt and 20% on the second-lien debt are also unchanged.

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) Aug. 9, 2018--S&P Global Ratings said today that its 'B' issue-level rating and '3' recovery rating on VeriFone Systems Inc.'s senior secured first-lien debt and its 'B-' issue-level rating and '5' recovery rating on the company's senior secured second-lien debt are unchanged following the $100 million upsize to the company's planned $1.65 billion first-lien debt (to a total of $1.75 billion). The second-lien debt is reduced to $200 million from the expected $300 million. The recovery estimates of 60% on the first-lien debt and 20% on the second-lien debt are also unchanged. This report does not constitute a rating action....

  
Report Type:

Bulletin

Ticker
PAY
Issuer
VeriFone Systems Inc.
GICS
Electronic Equipment Manufacturers (45203010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: VeriFone Systems Inc. Issue-Level Ratings Are Unchanged On $100 Million Upsize" Aug 09, 2018. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-VeriFone-Systems-Inc-Issue-Level-Ratings-Are-Unchanged-On-100-Million-Upsize-2084560>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: VeriFone Systems Inc. Issue-Level Ratings Are Unchanged On $100 Million Upsize Aug 09, 2018. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-VeriFone-Systems-Inc-Issue-Level-Ratings-Are-Unchanged-On-100-Million-Upsize-2084560>
  
Free
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.