17 Feb 2010 07:00
NEWS RELEASE
Moody's Investors Service Raises its Term Loan Rating to Ba3
SAN ANTONIO, TX, USA (February 16, 2010) - Billing Services Group Limited ("BSG" or the "Company") today announced that Moody's Investors Service has upgraded the rating on the senior secured term loan at the Company's subsidiary, Billing Services Group North America, Inc., from B1 to Ba3. In addition, Moody's affirmed the corporate family rating of B1.
"I am delighted to report Moody's favorable rating action, reflecting the Company's high interest coverage, low leverage and steady debt reduction," said Greg Carter, CEO of BSG. "This comes as a result of the Company's focused financial strategy and the hard work of every BSG employee. Our debt reduction program has contributed significantly to the equity value of the Company and we intend to continue to review the capital structure of the Company and its distribution policy to ensure that the returns to shareholders are maximized.''
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BSG, headquartered in San Antonio, Texas, USA and traded on the London Stock Exchange (AIM: BILL), has been a leading provider of clearing, settlement, payment and financial risk management solutions to the telecommunications industry for more than 20 years. For more information, please visit www.bsgclearing.com.
Inquiries:
Billing Services Group Limited +1 210 949 7000
Greg Carter
Norm Phipps
Evolution Securities Limited +44 (0)20 7071 4300
Stuart Andrews
Sam Plumptre
Hogarth +44 (0)20 7645 3988
Julian Walker
Media queries:
Komet Marketing Communications +1 210 326 8992
Leslie Komet Ausburn