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Recovery Report: Fidelity National Information Services Inc.'s Recovery Rating Profile Apr 09
Standard & Poors, April 2009
On April 1, 2009, in anticipation of the proposed acquisition of Metavante Technologies Inc. by Fidelity National Information Services Inc., Standard & Poor's Ratings Services assigned its issue and recovery ratings to Fidelity National Information Services Inc.'s proposed new $500 million senior secured term loan C and its existing $1.995 billion senior secured term loan A. The issue rating is 'BB+', the same as the company's corporate credit rating. The recovery rating is '3', indicating expectations for meaningful (50%-70%) recovery in the event of a payment default. At the same time, we assigned our issue and recovery ratings to a proposed new $145 million accounts receivable-backed revolving credit facility to be issued by a newly formed subsidiary of Fidelity National....
Companies mentioned in this report are: Fidelity National Information Services Inc.,Metavante Corp.
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.
Research Type: Full Analysis
Fidelity National Information Services Inc.,Metavante Corp.