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TEXT-Fitch rates Fidelity National Information Services
April 5, 2012 / 3:27 PM / 6 years ago

TEXT-Fitch rates Fidelity National Information Services

April 5 - Fitch Ratings has assigned a 'BBB-' rating to Fidelity National
Information Services, Inc.'s  (FIS) recently issued $2.1 billion senior
secured A-3 Term Loan which matures March 30, 2017. This loan effectively
extends the majority of the company's A-2 Term Loan which had a maturity of July
2014 in addition to repaying a portion of the Term B loan maturing in 2016. 	
	
The company has also extended its senior secured revolving credit facility to 	
March 2017 from July 2014 and increased its size to $1.15 billion.	
	
Pro forma for this new term loan, other term loan repayments including the use 	
of proceeds from a senior unsecured bond offering in March 2012, FIS' total debt	
outstanding remains approximately $4.8 billion and consists principally of the 	
following:	
	
--$250 million outstanding under a senior secured term loan-A maturing July 	
2014; 	
--$200 million outstanding under senior secured term loan-B maturing July 2016; 	
--$2.1 billion outstanding under a senior secured term loan-A maturing March 	
2017;	
--$750 million in 7.625% senior unsecured notes due July 2017;	
--$500 million in 7.875% senior unsecured notes due July 2020; and 	
--$700 million in 5% senior unsecured notes due March 2022.	
	
Fitch currently rates FIS as follows:	
--Issuer Default Rating 'BBB-';	
--$1.15 billion secured revolving credit facility 'BBB-';	
--Senior secured term loan A 'BBB-'; 	
--Senior secured term loan B 'BBB-';	
--$750 million in 7.625% senior unsecured notes due July 2017 'BBB-';	
--$500 million in 7.875% senior unsecured notes due July 2020 'BBB-';	
--$700 million in 5% senior unsecured notes due March 2022 'BBB-'.	
	
The Rating Outlook is Stable.

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