MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has
revised its outlook on VeriFone Inc to negative from positive, following the
company's announcement that it will restate its financial statements for the
first three quarters of 2007.
S&P said it affirmed the ratings on the company, including the 'BB-'
corporate credit rating.
The ratings reflect the company's moderate debt leverage and acquisitive
growth strategies. These factors are offset partially by VeriFone's leading
position in the niche market for electronic payment solutions and its
diversified customer and market base, the ratings agency said.
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