S&P rates TransFirst loans B, CCC+

Standard & Poor's said it assigned a B corporate credit rating to TransFirst Group Holdings Inc., B issue-level ratings with recovery ratings of 3 to its $310 million first-lien term loan due 2014 and $50 million first-lien revolving credit facility due 2013 and a CCC+ issue-level rating with a recovery rating of 6 to its $135 million second-lien term loan due 2015.

The outlook is stable.

The agency said the B corporate credit rating reflects TransFirst's highly leveraged financial profile, limited operational scale, partial reliance on outsourced providers to generate sales growth and high leverage.

The favorable small-to-midsize merchant payment processing business environment and steady, predictable cash flow generation partially offset these factors, in S&P's view.

© 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.