TORONTO (Standard&Poor's) April 21, 2010--Standard&Poor's Ratings Services said today that its ratings on Visa Inc. (A+/Stable/A-1) are unaffected by the company's announcement to acquire electronic payment provider CyberSource. Visa has entered into a definitive agreement with CyberSource to purchase all shares outstanding for approximately $2 billion cash. Given its strong cash position and capacity to generate cash flows from existing operations, Visa will be able to fund the transaction entirely from existing resources and without issuing debt. On Dec. 31, 2009, Visa had approximately $4.2 billion of cash and cash equivalents on its balance sheet. Furthermore, the company is currently generating approximately $2 billion of net income annually. The acquisition provides Visa with an opportunity to
