U.S. Markets closed

Total System Services, Inc -- Moody's affirms TSYS's senior unsecured rating of Baa3; outlook stable

Moody's Investors Service ("Moody's") affirmed Total System Services, Inc.'s ("TSYS") senior unsecured rating of Baa3 following TSYS's announcement that it has agreed to merge with Global Payments, Inc. ("Global Payments", Ba2 rating on review for upgrade) in an all-stock transaction which is expected to close in the second half of 2019. Global Payments will be the surviving parent company following the merger.