Research Update: Fidelity National Information Services Inc. 'BBB/A-2' Ratings Affirmed On Plan To Acquire Worldpay; Outlook Stable

Fidelity National Information Services Inc. (FIS), a provider of global financial services processing technology solutions, has announced its intention to acquire Worldpay Inc., a global merchant acquiring and processing company, for a total consideration of about $43 billion. FIS expects to fund the acquisition with a combination of stock and cash. The company expects to issue approximately $11 billion of new debt to repay Worldpay's outstanding debt. On March 18, 2019, S&P Global Ratings affirmed its 'BBB/A-2' issuer credit ratings, as well as its short-term commercial paper rating and debt ratings, on FIS. The outlook is stable and reflects our expectation that FIS will generate low- to mid-single-digit revenue growth, gradually achieve cost synergies, and apply much of its free

...+ Fidelity National Information Services Inc. (FIS), a provider of global financial services processing technology solutions, has announced its intention to acquire Worldpay Inc., a global merchant acquiring and processing company, for a total consideration of about $43 billion. + FIS expects to fund the acquisition with a combination of stock and cash. The company expects to issue approximately $11 billion of new debt to repay Worldpay's outstanding debt. + On March 18, 2019, S&P Global Ratings affirmed its '###/A-2' issuer credit ratings, as well as its short-term commercial paper rating and debt ratings, on FIS. + The outlook is stable and reflects our expectation that FIS will generate low- to mid-single-digit revenue growth, gradually achieve cost synergies, and apply much of its free cash flow after dividends toward debt reduction during the two years following the transaction close....

Research Update