Moody’s changes WEX outlook to negative

Moody's Investors Service said it affirmed WEX Inc.'s Ba3 corporate family rating and Ba3 senior unsecured debt rating.

The outlook was changed to negative from stable.

Moody’s said the change in outlook reflects the projected increase in leverage, integration risks, and decreased liquidity as a result of the company's planned acquisitions of Evolution1 and ExxonMobil's European Commercial Fuel Card Program. The Evolution1 acquisition is expected to close in the third quarter and the ExxonMobil program later this year.

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