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Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Verifone Systems, Inc. New York, October 09, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Verifone Systems, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
The Hong Kong-based company has a balance sheet full of cash. This year, it will produce record profits and trade at the lowest ratios in its history Continue reading...
Moody's Investors Service said that Verifone Systems, Inc.'s B2 Corporate Family Rating and the B2 ratings for the 1st lien credit facilities are not affected by the company's plans to upsize the incremental 1st lien term loan offering by $200 million, to $425 million. The ratings outlook is stable. This publication does not announce a credit rating action.
Moody's Investors Service ("Moody's") affirmed Verifone Systems, Inc.'s (Verifone) B2 Corporate Family Rating (CFR) and the Caa1 rating for its 2nd lien credit facilities, and downgraded the ratings for the 1st lien credit facilities to B2, from B1. The outlook is stable.