S&P rates Visa notes AA-

S&P said it assigned its AA- debt rating to Visa Inc.'s proposed offerings of up to $4 billion in three issues of senior unsecured debt.

Proceeds will be used for general corporate purposes. S&P said it also expects Visa to use the proceeds to help bolster its liquidity.

“The company announced the issuances after lowering its expectations for its second fiscal quarter, ending March 31, and suspending its guidance for the full fiscal year. If S&P Global economists' current forecast for a first-half U.S. and global recession and a second-half recovery proves correct, we would expect Visa's performance to suffer in the coming months meaningfully before regaining at least some of its momentum in the remainder of the year,” S&P said in a press release.

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