WEX Inc. has entered into a definitive agreement to acquire Evolution1 Inc., a payments solution provider in the health care industry, for approximately $532.5 million. WEX expects to finance the acquisition using cash and its revolving credit facility. We believe the acquisition will meaningfully increase WEX's debt obligations and weaken credit metrics. Therefore, we are placing our ratings, including the 'BB' issuer credit rating, on CreditWatch with negative implications and will resolve the CreditWatch upon the closing of the transaction. On June 17, 2014, Standard&Poor's Ratings Services placed its ratings on South Portland, Maine-based WEX Inc., including the 'BB' issuer credit rating, on CreditWatch with negative implications. The CreditWatch listing follows WEX's announcement that it has entered a
