Fitch: Fidelity, Metavante on watch

Fitch Ratings said that following Fidelity National Information Services, Inc.'s announcement of its decision to pursue a leveraged recapitalization, the agency has placed the following ratings on rating watch negative: issuer default rating BB+; $900 million secured revolving credit facility at BBB-; and senior secured term loan A at BBB-.

Fitch said it has also placed on rating watch negative the following ratings for Metavante Technologies Inc.: issuer default rating BB+; and $800 million senior secured term loan B BBB-.

The agency said that Fidelity previously announced that its board of directors had formed a special committee to evaluate two potential strategic alternatives, including a leveraged buyout as well as a leveraged recapitalization of the company and share repurchase program.

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