S&P affirms Visa International

Standard & Poor's said it affirmed the A long-term and A-1 short-term counterparty credit ratings on Visa International Service Assn. and removed them from CreditWatch with developing implications, where they were placed June 25.

The outlook is positive.

The affirmation follows Visa's announcement to settle its antitrust suit with American Express for $2.25 billion, according to S&P.

The ratings could be raised it the company completes its planned initial public offering and on final implementation of the retrospective responsibility plan, the agency said.

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