S&P lifts TransFirst from junk after acquisition

Standard & Poor's said it raised the corporate credit rating on TransFirst Holdings Inc. to BBB from B.

The outlook is stable.

The agency also said it removed the rating from CreditWatch, where it was placed with positive implications in January.

S&P then subsequently withdrew all of the ratings, including issue-level ratings on debt issued by TransFirst Inc.

The upgrade and subsequent withdrawal follows the completion of Total System Services Inc.’s acquisition of TransFirst for $2.35 billion, the agency said.

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