Nexus Buyer LLC (dba IntraFi) a Washington, D.C. metro area-based provider of deposit allocation technology-based services to U.S. banks has outperformed our expectations sustaining stronger-than-anticipated deposit volume and earnings growth. IntraFi's deposit volume growth outperformance improves visibility to our updated base-case expectation that the company will likely sustain S&P Global Ratings-adjusted leverage beneath 7.5x, even if it pursues large, periodic debt-financed shareholder dividends. As a result, we raised our issuer credit rating by one notch to 'B'. Additionally, we also raised our issue-level rating on the first-lien credit facility by one notch to 'B', and our issue-level rating on the second-lien credit facility by one notch to 'CCC+'. Our recovery ratings are unchanged. The stable outlook reflects our expectation IntraFi
