S&P: TransFirst loans B, CCC+

Standard & Poor's said it affirmed the B rating on TransFirst Holdings Inc.

The outlook remains stable.

The agency also said it assigned a B rating and 3 recovery rating to the proposed first-lien term loan and revolving credit facility and a CCC+ rating and 6 recovery rating to the proposed second-lien term loan.

The 3 recovery rating indicates 50% to 70% expected default recovery and the 6 recovery rating indicates 0% to 10% recovery.

These three types of debt make up the $650 million credit facility.

The ratings reflect the company's weak business risk profile, limited operating scale and highly leveraged financial risk profile, S&P said.

The company is expected to maintain adequate liquidity from internal and external sources, the agency said.

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