Fitch assigns NCR stable outlook

Fitch Ratings said it removed the rating watch negative for NCR Corp.'s long-term issuer default rating and the IDRs for subsidiary co-borrowers NCR Ltd., NCR Nederland BV, and NCR Global Solutions Ltd., as well as the company's senior secured facilities and issue-level ratings and assigned a stable outlook.

The agency said it also affirmed the senior secured revolver and term loans issued by each of the entities at BB+/RR2 and the senior unsecured bonds and convertible preferred shares issued by NCR Corp. at BB-/RR4.

“Fitch believes NCR Corp. (being rebranded as NCR Voyix) remains well positioned in its end markets and the current rating category post the planned separation of its ATM business in 2H23. Despite less diversification from the sizeable and cash generative ATM business, its remaining businesses have solid market presence in retail, hospitality and digital banking and should see solid revenue and earnings growth over time,” the agency said in a press release.

The agency said it projects Voyix will be able to generate revenue of nearly $4 billion annually and EBITDA near $700 million.

© 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.