S&P Downgrades VeriFone to CCC+ From B-; Outlook Negative

S&P downgrades VeriFone Systems, expects elevated debt-to-Ebitda ratio and weak annual free operating cash flow generation in fiscal years 2024 and 2025.

• Negative outlook is based on company’s approaching $2.1b debt maturity in Aug. 2025
• NOTE: July 15, Verifone, Creditor Advisers Begin Talks for Debt Extension

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