SAN FRANCISCO (Standard&Poor's) Dec. 1, 2011--Standard&Poor's Ratings Services said today that it removed its 'BB-' issue rating on VeriFone Systems Inc.'s existing $316 million unsecured convertible notes, of which $277 million is outstanding, from CreditWatch, where it was placed with negative implications on Nov. 15, 2011. The unsecured convertible notes are expected to be repaid in June 2012 as part of the company's proposed $1.7 billion refinancing and acquisition of Point International. The 'BB-' corporate credit rating on VeriFone remains unchanged. (For the complete corporate credit rating rationale, see the research update on VeriFone , published Nov. 15, 2011, on RatingsDirect on the Global Credit Portal. For the recovery analysis, see the recovery report on VeriFone,
