S&P boosts VeriFone

Standard & Poor's said it raised its corporate credit and senior secured bank loan ratings on VeriFone Inc. to BB- from B+.

The upgrade reflects the company's improved financial profile, as well as strong revenue and earnings growth, the agency said.

The outlook is stable.

S&P noted the ratings on VeriFone reflect the company's modest size and relatively short financial history as an independent entity, adding that these factors are partially offset by VeriFone's leading position in the niche market for electronic payment solutions, a diversified customer base and strengthened financial profile.

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