07.08.2014 22:49:00
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First American Payment Systems, L.P. -- Moody's affirms First American Payment Systems' B2 CFR and instrument ratings following sale to Ontario Teachers' Pension Plan; outlook stable
New York, August 07, 2014 -- Moody's Investors Service, ("Moody's") affirmed the First American Payment Systems, L.P.'s ("FAPS") B2 Corporate Family Rating ("CFR"), B2-PD Probability of Default Rating ("PDR"), and the instrument ratings following the sale of FAPS to an investment group led by Ontario Teachers' Pension Plan ("Teachers") and amendments to loosen the financial leverage covenants. The outlook is stable.