Moody's rates Evertec loans Ba3

Moody's Investors Service said it assigned to Evertec, Inc. corporate family and probability-of-default ratings of B2 and a Ba3 rating (LGD3, 30%) to its proposed $50 million senior secured revolving credit facility and $350 million senior secured term loan.

The outlook is stable.

Moody's said the B2 corporate family rating reflects the company's high financial leverage, concentrated business profile and relatively small scale.

The B2 rating reflects the company's leading position and an exclusive 15-year services agreement, the agency said.

The rating also considers the generally favorable macro environment for electronic payment processing industry, the agency noted.

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