U.S.-based media delivery, payment solution, and marketing services provider Harland Clarke Holdings Corp. (HCHC) announced that it intends to acquire U.S.-based online coupon site RetailMeNot Inc. for $620 million plus associated fees. The company plans to finance the acquisition by upsizing its asset-backed revolving credit facility (unrated) to $250 million and issuing a $360 million add-on to its B-6 term loan. We are affirming our ratings on HCHC, including the 'B+' corporate credit rating, and removing them from CreditWatch negative. The negative outlook reflects our view that HCHC's leverage could remain above 5x in the next 12 months. On April 19, 2017, S&P Global Ratings affirmed all of its ratings, including its 'B+' corporate credit rating, on U.S.-based media delivery,
