Summary: MasterCard Inc. Sep 11

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services' ratings on MasterCard Inc. are based on the company's strong brand name and number-two global market share position in electronic payments--important factors behind its ability to generate consistently strong cash flows, even during economic downturns. MasterCard is a globally recognized firm that provides transaction processing for credit and debit cards carrying its brand, guarantees settlement between customers, and provides other payment-related services. Its customers are principally financial institutions--mostly banks--that are authorized to participate in the MasterCard network. MasterCard guarantees the settlement of payments between its customers, so it is exposed to the fragility of the global banking system. Credit exposure is becoming increasingly concentrated among a handful of large banks, but these tend to be...

Companies mentioned in this report are: MasterCard Inc.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

MasterCard Inc.

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