...August 10, 2020 NEW YORK (S&P Global Ratings) Aug. 10, 2020--S&P Global Ratings today assigned its '##-' debt rating to Visa Inc.'s (##-/Stable/A-1+) proposed offerings of three issues of senior unsecured debt. We expect the company to use the proceeds for general corporate purposes, potentially including the repayment of $3 billion of senior notes due in December 2020. The economic downturn triggered by the coronavirus pandemic has pressured Visa's payment volumes and performance. The company's net revenue fell 17% in the quarter ending June 30, 2020. However, payment volumes have recovered in large part since a sharp drop in March and April, and we expect the company's strong market position and good financial management to allow it to maintain its long track record of high margins and low leverage. Our stable outlook on our rating on Visa reflects our expectation the company will maintain low leverage and robust liquidity without any major disruption, at least in the next two years,...
