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Moody's Investors Service ("Moody's") downgraded Verifone Systems, Inc.'s (Verifone) Corporate Family Rating (CFR) to B3 from B2 and Probability of Default Rating (PDR) to B3-PD from B2-PD. The company's senior secured credit facility rating was downgraded to B3 from B2. Verifone's credit profile is constrained by limited revenue growth and elevated leverage (Moody's adjusted total leverage of 6.9x at fiscal 2019 year-end, adding back one-time items but not pro forma for unrealized cost savings).
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.
The September jobs report will be the top economic event of the week while markets will also remain focused on the two biggest stories of last week, this week — Kavanaugh's confirmation and Musk's SEC settlement.
Moody's Investors Service ("Moody's") assigned to Verifone Systems, Inc. (Verifone) a B2 Corporate Family Rating (CFR), B2-PD Probability of Default Rating, and B1 and Caa1 ratings to the company's proposed first lien and second lien credit facilities, respectively. The ratings have a stable outlook. The proceeds from the new credit facilities will be used to consummate the acquisition of Verifone by a consortium led by Francisco Partners for approximately $3.4 billion, including net debt.
Gains were broad based as six out of nine sectors finished the trading session in green. WallStEquities.com has initiated research reports on the following Consumer Goods stocks: Pitney Bowes Inc. (NYSE: PBI), Steelcase Inc. (NYSE: SCS), VeriFone Systems Inc. (NYSE: PAY), and Church & Dwight Co. Inc. (NYSE: CHD).
In this article I am going to calculate the intrinsic value of VeriFone Systems Inc (NYSE:PAY) by taking the foreast future cash flows of the company and discounting them backRead More...
Trade balance data for April as well as productivity stats for the first quarter will be highlights on an otherwise slow day for economic and business news on Wednesday.
The coming week will present investors with a slower economic and earnings schedule after last week's jobs report and concerns over the Italian political situation.
The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- Swiss engineering company ABB to acquire General Electric's industrial ...
Stock Research Monitor: MLHR, SCS, and PAY LONDON, UK / ACCESSWIRE / May 21, 2018 / If you want a free Stock Review on PBI sign up now at www.wallstequities.com/registration . On Friday, benchmark US indices ...
Partnership with SISCOOP is one of Fiserv's (FISV) multiple strategic business moves that the company has been undertaking to enhance its digital banking and payment solutions suite.
BALA CYNWYD, PA / ACCESSWIRE / April 16, 2018 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Verifone Systems, Inc. ("Verifone" ...
Moody's Investors Service (Moody's) placed VeriFone, Inc.'s (Verifone) Ba2 Corporate Family Rating (CFR) and Ba3-PD Probability of Default Rating under review for downgrade following the company's announcement ...
BALA CYNWYD, PA / ACCESSWIRE / April 12, 2018 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Verifone Systems, Inc. ("Verifone" ...