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S&P affirms First Cash Financial on Cash America deal announcement

Standard & Poor's Ratings Services said April 29 that itaffirmed its issuer credit rating of BB on First Cash Financial Services Inc.

The outlook remains stable.

The affirmation follows the announcement that First Cashwill merge withCash America InternationalInc.

"We do not expect the transaction to result in higherleverage levels and believe the merger will further strengthen First Cash'scompetitive position, as each of the companies operates with limited geographicoverlap and has demonstrated a track record of earnings stability," saidS&P credit analyst Shakir Taylor.

The stable outlook reflects S&P's expectation that FirstCash and Cash America will execute the transaction without significantoperational or regulatory hurdles.

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