S&P ups Evertec Group

S&P said it raised Evertec Group LLC’s issuer rating to BB- from B+.

Evertec kept a conservative balance sheet and solid credit metrics while growing revenue amid several external shocks, including natural disasters and the pandemic, the agency noted.

“We expect the company will generate consistent revenue growth and maintain strong EBITDA margins over the next two years, underpinned by its defensible market position in Puerto Rico and growth opportunities in Latin American markets,” S&P said in a press release.

The outlook is stable.

© 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.