Global Payments Inc. Assigned 'BB+' Corporate Credit Rating And Stable Outlook - S&P Global Ratings’ Credit Research

Global Payments Inc. Assigned 'BB+' Corporate Credit Rating And Stable Outlook

Global Payments Inc. Assigned 'BB+' Corporate Credit Rating And Stable Outlook - S&P Global Ratings’ Credit Research
Global Payments Inc. Assigned 'BB+' Corporate Credit Rating And Stable Outlook
Published Mar 10, 2016
3 pages (1293 words) — Published Mar 10, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Global Payments Inc., a payments technology provider, is acquiring competitor Heartland Payment Systems for $4.3 billion funded through a combination of stock and debt. The company's pro forma leverage amounts to about 4.7x post transaction. We are assigning a 'BB+' corporate credit rating and stable outlook to Global Payments. The stable outlook reflects our expectation for continued operating stability as the company integrates Heartland and prioritizes debt repayment over the coming year. NEW YORK (Standard&Poor's) March 10, 2016--Standard&Poor's Ratings Services today said it assigned its 'BB+' corporate credit rating to Atlanta-based Global Payments Inc. The outlook is stable. We also assigned our 'BBB-' issue-level rating and '2' recovery rating to the company's secured credit facilities, which

  
Brief Excerpt:

...+ Global Payments Inc., a payments technology provider, is acquiring competitor Heartland Payment Systems for $4.3 billion funded through a combination of stock and debt. + The company's pro forma leverage amounts to about 4.7x post transaction. + We are assigning a '##+' corporate credit rating and stable outlook to Global Payments. + The stable outlook reflects our expectation for continued operating stability as the company integrates Heartland and prioritizes debt repayment over the coming year. NEW YORK (Standard & Poor's) March 10, 2016--Standard & Poor's Ratings Services today said it assigned its '##+' corporate credit rating to Atlanta-based Global Payments Inc. The outlook is stable. We also assigned our '###-' issue-level rating and '2' recovery rating to the company's secured credit facilities, which consist of a $1.25 billion revolver (about $775 million drawn at the close of the transaction) expiring in 2020, a $2.485 billion term loan A maturing in 2020, and a $1.045 billion...

  
Report Type:

Ratings Action

Ticker
GPN
Issuer
GICS
Data Processing & Outsourced Services (45102020)
Sector
Global Issuers
Country
Region
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MLA:
S&P Global Ratings’ Credit Research. "Global Payments Inc. Assigned 'BB+' Corporate Credit Rating And Stable Outlook" Mar 10, 2016. Alacra Store. May 18, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Global-Payments-Inc-Assigned-BB-Corporate-Credit-Rating-And-Stable-Outlook-1594885>
  
APA:
S&P Global Ratings’ Credit Research. (). Global Payments Inc. Assigned 'BB+' Corporate Credit Rating And Stable Outlook Mar 10, 2016. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Global-Payments-Inc-Assigned-BB-Corporate-Credit-Rating-And-Stable-Outlook-1594885>
  
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