Global Payments Inc.'s Proposed Term Loan B Assigned 'BBB-' Issue Rating And '2' Recovery Rating

NEW YORK (S&P Global Ratings) Oct. 10, 2018--S&P Global Ratings today assigned its 'BBB-' issue-level rating to Atlanta-based financial technology services provider Global Payments Inc.'s proposed term loan B. The company will use the net proceeds primarily to repay outstanding debt under its revolving credit facility. We also assigned a recovery rating of '2' based on our expectation of substantial recovery (70% to 90%; rounded estimate: 70%). The company recently announced its acquisition of SICOM Holdings Inc (SICOM), for $415 million, funded under its existing revolving credit facility. SICOM provides cloud-based enterprise management systems, point-of-service systems, and digital signage to the restaurant industry. The 'BB+' issuer credit rating on Global Payments is based on its solid market position in the

...NEW YORK (S&P Global Ratings) Oct. 10, 2018--S&P Global Ratings today assigned its '###-' issue-level rating to Atlanta-based financial technology services provider Global Payments Inc.'s proposed term loan B. The company will use the net proceeds primarily to repay outstanding debt under its revolving credit facility. We also assigned a recovery rating of '2' based on our expectation of substantial recovery (70% to 90%; rounded estimate: 70%). The company recently announced its acquisition of SICOM Holdings Inc (SICOM), for $415 million, funded under its existing revolving credit facility. SICOM provides cloud-based enterprise management systems, point-of-service systems, and digital signage to the restaurant industry. The '##+' issuer credit rating on Global Payments is based on its solid market position in the international payments and processing services market. The rating also considers the highly competitive and fragmented nature of merchant acquiring. The acquisition has increased...

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