S&P Global Ratings affirmed Jacksonville, Fla.-based Fidelity National Information Services Inc.'s BBB/A-2 issuer credit ratings, as well as its short-term commercial paper rating and debt ratings, following the announcement that the company and Worldpay Inc. will merge.
The outlook is stable, reflecting S&P's expectations that the company will generate low to mid-single-digit revenue growth, achieve cost synergies and use its free cash flow after dividends to reduce its debt in first two years post-merger.
The ratings action is based on the large scale of the merged entity and "its diverse set of outsourced financial services solutions," according to the note.
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.