Wex to acquire Electronic Funds Source for $1.1 billion

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Go back to Wex to acquire Electronic Funds Source for $1.1 billion

S&P Lowers Outlook on Wex, Inc. (WEX) to Negative Following Move to Acquire EFS

October 19, 2015 2:47 PM EDT

Standard & Poor's Ratings Services said today it revised its outlook on WEX Inc. (NYSE: WEX) to negative from stable and affirmed its 'BB-' issuer credit rating. At the same time, we affirmed our 'BB-' ratings on the company's senior secured credit facility, including a term loan and revolver, as well as its senior unsecured notes. We assigned '3' recovery ratings to the senior secured credit facility and the senior unsecured debt, indicating our expectation for a meaningful (50%-70%, upper half of the range) recovery for lenders in the event of a payment... More