S&P ups Billing Services

Standard & Poor's said it raised Billing Services Group North America Inc.'s senior secured term loan to BB from B+ with a revised recovery rating to 1 from 3. The 1 recovery rating indicates an expectation for 90% to 100% recovery in a default. The agency also said it affirmed the B+ corporate credit rating Billing Services Group Ltd.

The outlook is stable.

The rating changes reflect a revised expectation for recovery in the event of default, primarily resulting from company's substantial debt reduction since its December 2007 recapitalization, S&P said.

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