Deluxe Corporation: High exposure to secularly declining checks business mitigated by moderate leverage, good growth prospects in payments
Our credit view of Deluxe, reflecting high exposure to a secularly declining checks business, ongoing business model repositioning, moderate leverage and good liquidity.Deluxe is engaged in providing payment solutions. The company's marketing solutions and other services provides products and services designed to meet its customers' sales and marketing needs, as well as various other service offerings. The company's forms, accessories and other products provides printed business forms, including deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices and personnel forms, as well as computer forms compatible with accounting software packages commonly used by small businesses. The company also provides other customized products, including envelopes, office supplies, ink stamps, labels, deposit tickets, check registers and checkbook covers.
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