Ingenico : Update on the credit and focus on the governance
We reiterate our Stable credit opinion on the company. We view positively the quality of its new governance structure, the initial results from its recovery plan and the priority given by management to deleveraging. However, we still have in the back of our mind the rumours of takeover bid by private equity funds that appeared during the summer 2018 and which represent a latent risk for creditors (since such a transaction would take the form of a LBO in our opinion). - It should b...Ingenico Group is a business technology company, operating in 125 countries. Co. designs, develops and supplies payment terminals, offering mercantile payment solutions, cross-border and global payment services and certified global service platform. Co.'s services are done around Payment terminals and software; Terminal estate management, security application updates; Connectivity ensuring the terminal-to-bank host connection; Full after-sales service taking charge of every phase in the lifecycle of terminals and software; 24/7, from installation, maintenance & repair to upgrades; Centralization of transactions; End-to-end security - from terminal to bank or processor..
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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