Moody's says iPayment's proposed debt exchange offer is credit positive
New York, February 16, 2017-- Moody's Investors Service said that iPayment, Inc.' s ratings, including the Caa2 Corporate Family Rating, and the negative rating outlook are not affected by iPayment's proposed debt exchange offer which will lead to a significant reduction in its debt. Moody's will view the exchange as a distressed exchange under its definition of a default. Should the exchange occur as stipulated, Moody's expects to append the "/ LD" indicator to iPayment's...
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