Research Update: Fidelity National Information Services Inc. Rating Lowered To 'BB'; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Fidelity National Information Services Inc. Rating Lowered To 'BB'; Outlook Stable

Research Update: Fidelity National Information Services Inc. Rating Lowered To 'BB'; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Fidelity National Information Services Inc. Rating Lowered To 'BB'; Outlook Stable
Published Jul 01, 2010
1873 words — Published Jul 01, 2010
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

FIS has decided to pursue a leveraged recapitalization, issuing $2.6 billion of incremental debt to repurchase its common stock through a Dutch auction tender offer. We are lowering our corporate credit rating on the company to 'BB' from 'BB+' and removing it from CreditWatch. We are assigning our 'BBB-' issue and '1' recovery ratings to FIS' proposed extended senior secured term loan A2 of up to $2 billion, the proposed new $1.4 billion senior secured term loan B, and the incremental and extended revolving credit facility of up to $933 million. The stable outlook reflects FIS's diversified and recurring revenue model. On July 1, 2010, Standard&Poor's Ratings Services lowered its corporate credit rating on Jacksonville, Fla.-based Fidelity National

  
Brief Excerpt:

RESEARCH Research Update: Fidelity National Information Services Inc. Rating Lowered To '##'; Outlook Stable Publication date: 01-Jul-2010 Primary Credit Analyst: Philip Schrank, New York (1) 212-438-7859; phil_schrank@standardandpoors.com...

  
Report Type:

Research Update

Ticker
FIS
Issuer
Fidelity National Information Services Inc.
GICS
Data Processing & Outsourced Services (45102020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Fidelity National Information Services Inc. Rating Lowered To 'BB'; Outlook Stable" Jul 01, 2010. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Fidelity-National-Information-Services-Inc-Rating-Lowered-To-BB-Outlook-Stable-807252>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Fidelity National Information Services Inc. Rating Lowered To 'BB'; Outlook Stable Jul 01, 2010. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Fidelity-National-Information-Services-Inc-Rating-Lowered-To-BB-Outlook-Stable-807252>
  
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