NEW YORK (S&P Global Ratings) Aug. 5, 2019--S&P Global Ratings today assigned its preliminary 'BBB-' issue-level rating to Global Payments Inc.'s proposed senior unsecured notes. Final ratings will depend on the successful closing of the merger between Global Payments and Total System Services Inc., which we expect will occur in the fourth quarter of 2019. The proceeds from these notes will remain in an escrow account subject to the completion of the merger. Our 'BB+' issuer credit rating on Global Payments remains on CreditWatch, where we placed it with positive implications on May 28, 2019. Upon the consummation of the acquisition, we expect to raise our issuer credit rating on the company to 'BBB-'. At that time, we also expect
