S&P rates Evertec loans BB-

Standard & Poor's said it assigned a B+ corporate credit rating with a stable outlook to Evertec and a BB- issue rating to the company's $50 million senior secured revolving credit facility and $355 million term loan B.

The outlook is stable.

Proceeds will be used to finance in part a carve-out acquisition of Evertec from a subsidiary of Popular Inc.

The stable outlook reflects Evertec's relatively stable revenues and consistent profitability and cash flow generation, according to the agency.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.