The ratings on payment solutions company Visa Inc. (Visa) are based on Visa's strong global market share position and franchise and its relatively low exposure to credit risk. A strong customer base with negligible member financial institutions failures and credit losses to date also supports the ratings. The company's business is highly scalable and revenues continue to benefit from strong growth of dollar volumes and number of transactions processed through its systems, leading to very strong cash flow generation. With the reorganization of Visa Inc. in 2007, the member banks of Visa USA agreed to cover the most threatening litigation exposures to Visa under the retrospective responsibility plan. This is a major rating factor, as it addresses potential charges worth
