trending Market Intelligence /marketintelligence/en/news-insights/trending/9CjePNsWtIspNdDIUYJD-g2 content esgSubNav
In This List

S&P puts Vantiv unit on CreditWatch negative

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


S&P puts Vantiv unit on CreditWatch negative

S&P Global Ratings placed all of Vantiv LLC's ratings, including its BB+ corporate credit rating, on CreditWatch with negative implications.

The action comes after Vantiv Inc. finalized its offer to acquire Worldpay Group plc and announced its plan to buy back part of Fifth Third Bancorp's shares in the company.

S&P said Vantiv LLC will likely take on about $1.7 billion of additional debt to fund part of the Worldpay acquisition. The rating agency said its ratings action reflects its view that pro forma for the transactions, initial adjusted debt-to-EBITDA will increase to over 5x from around 3.5x as of June 30, despite improved diversification and scale.

Vantiv LLC is a Delaware limited liability company and a wholly owned subsidiary of Vantiv Inc.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.