Cashcard's parent First Data owned by KKR are groaning under a mountain of debt thanks to a $26 billion-valuation LBO
With $22.6 billion of debt, First Data's debt-to-Ebita ratio is 10.5. The payment processing behemoth will not be able to pay off this mountain of debt out of operations. Legislation has just been passed in the US which amongst other things is very restrictive on credit card company's, crimping First Dat's profits further. Now...First Data owns Cash Card locally so could this be up for sale ? CUS has two banks ready to assist in aquisitions so was this a flag that something may be in the air ? Interesting times !
Cashcard's parent First Data owned by KKR are groaning under a...
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