Bulletin: WEX Inc. Ratings Unaffected By Proposed Repricing Of $1.182 Billion Term B Loan

NEW YORK (S&P Global Ratings) Jan. 16, 2018--S&P Global Ratings said today its ratings on WEX Inc. (BB-/Stable/--) and subsidiaries remain unaffected by the company's announcement of its proposed repricing of its existing $1.182 billion term B loan with an upsize of $153 million. Our ratings remain unaffected because we view the repricing of the term B loan to be leverage neutral and expect that the upsizing will be used to further reduce debt. We expect WEX to continue to solidify its leading market position in its U.S. fleet business and to steadily grow its virtual card, health care account management, and international fleet card business.

...NEW YORK (S&P Global Ratings) Jan. 16, 2018--S&P Global Ratings said today its ratings on WEX Inc. (##-/Stable/--) and subsidiaries remain unaffected by the company's announcement of its proposed repricing of its existing $1.182 billion term B loan with an upsize of $153 million. Our ratings remain unaffected because we view the repricing of the term B loan to be leverage neutral and expect that the upsizing will be used to further reduce debt. We expect WEX to continue to solidify its leading market position in its U.S. fleet business and to steadily grow its virtual card, health care account management, and international fleet card business. Only a rating committee may determine a rating action and this report does not constitute a rating action....

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