Euronet Worldwide Receives Investment Grade Credit Rating From Standard & Poor's
LEAWOOD, Kan., Feb. 6, 2013 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (Nasdaq:EEFT), a leading global electronic payments provider and distributor, announced it has been assigned an issuer credit rating of BBB- by Standard & Poor's Rating Services ("S&P") with a stable outlook.
"We believe that S&P's investment-grade designation reflects our ability to consistently generate strong free cash flows which have allowed us to deleverage, fund acquisitions and repurchase shares," stated Michael J. Brown, Euronet's Chairman and Chief Executive Officer. "This S&P rating offers an independent perspective that validates the strength of our financial position and our conservative balance sheet management, and should give our customers, vendors and content providers additional confidence regarding financial strength."
Information regarding Euronet's rating assignment can be found on the Standard & Poor's website at www.standardandpoors.com. None of the information on this website, including that research report, is incorporated by reference into or is otherwise a part of this press release.
The credit rating assigned to Euronet Worldwide by S&P is subject to change based upon, among other factors, changes in Euronet's operational or financial condition. This rating is subject to ongoing evaluation by S&P and Euronet cannot guarantee the rating will not be changed or withdrawn in the future by the rating agency if the agency feels circumstances warrant. This rating does not relate to Euronet's common stock, and is not a recommendation to buy, sell or hold Euronet's stock or any other securities.
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, consumer money transfer and bill payment services, and electronic distribution for prepaid mobile phone time and other prepaid products.
Euronet's global payment network is extensive - including 17,370 ATMs, approximately 69,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 36 countries; card software solutions; a prepaid processing network of approximately 631,000 POS terminals at approximately 304,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 170,000 locations serving 133 countries. With corporate headquarters in Leawood, Kansas, USA, and 47 worldwide offices, Euronet serves clients in approximately 150 countries. For more information, please visit the Company's website at www.euronetworldwide.com.
The Euronet Worldwide, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15729
Statements contained in this news release that concern Euronet's or its management's intentions, expectations, or predictions of future performance, are forward-looking statements. Euronet's actual results may vary materially from those anticipated in such forward-looking statements as a result of a number of factors, including: conditions in world financial markets and general economic conditions; technological developments affecting the market for the Company's products and services; foreign currency exchange fluctuations; the Company's ability to renew existing contracts at profitable rates; changes in fees payable for transactions performed for cards bearing international logos or over switching networks such as card transactions on ATMs; and changes in laws and regulations affecting the Company's business, including immigration laws. These risks and other risks are described in the Company's filings with the Securities and Exchange Commission, including our Annual Report on Form 10- K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Copies of these filings may be obtained via the SEC's Edgar website or by contacting the Company or the SEC. Euronet does not intend to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances. The Company regularly posts important information to the investor relations section of its website.
CONTACT: Euronet Worldwide, Inc. Stephanie Taylor email@example.com (913) 327-4200