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S&P might lift WP Mustang
Standard & Poor's said it placed its ratings, including its B corporate credit rating, on WP Mustang Holdings LLC (EFS) on CreditWatch with positive implications.
As part of the acquisition, the agency expects that the company will refinance its $250 million in term loans due 2022, and $500 million in term loans due 2021.
S&P will withdraw the ratings on the company after the transaction closes.
"The CreditWatch placement follows EFS's announcement that WEX Inc. has agreed to acquire the company from private equity firm Warburg Pincus," S&P credit analyst Sylvester Malapas said in a news release.
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