S&P Global Ratings upgraded Global Payments Inc.'s issuer credit rating to BBB- from BB+ and removed the rating from CreditWatch, where it was placed with positive implications in May.
The outlook is stable, reflecting the rating agency's expectation that Global Payments will maintain mid- to high-single-digit revenue growth and deliver a modest improvement in EBITDA margins as it realizes cost synergies from its recently completed merger with Total System Services Inc. over the next few years.
Ratings also assigned a BBB- rating to Global Payments' senior unsecured notes.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
