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S&P: VeriFone off watch
Standard & Poor's said it removed its BB- issue rating on VeriFone Systems Inc.'s existing $316 million unsecured convertible notes, of which $277 million is outstanding, from CreditWatch, where it was placed with negative implications on Nov. 15.
The unsecured convertible notes are expected to be repaid in June 2012 as part of the company's proposed $1.7 billion refinancing and acquisition of Point International.
The BB- corporate credit rating on VeriFone remains unchanged.
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