Fitch gives PayPal notes A-

Fitch Ratings said it gave PayPal Holdings, Inc.'s planned senior notes an A- rating.

Concurrently, the agency affirmed the A- ratings on PayPal’s and its senior unsecured revolver and senior unsecured notes.

Additionally, Fitch gave A- issuer ratings to the following subsidiaries that were added as co-borrowers on the company's $5 billion senior unsecured revolving credit facility: Paypal (Europe) Sarl. et Cie, SCA (Luxembourg borrower); PayPal Pte. Ltd. (Singapore borrower); and PayPal Australia Pty Ltd.

PayPal will use the proceeds to redeem $2 billion of upcoming maturities and further bolster cash on its balance sheet.

The outlook is stable.

© 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.