MOODY'S credit rating is an opinion as to the creditworthiness of a debt obligation of the issuer, not on the equity securities of the issuer or any form of security that is available to retail investors. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity. Paysafe expects double-digit revenue growth between 2020 and 2023. CREDIT RATINGS, NON-CREDIT ASSESSMENTS ("ASSESSMENTS"), AND OTHER OPINIONS INCLUDED IN MOODY'S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. Contemporary, flexible offerings to drive incremental earnings. They are expected to retain approximately 45.7% of equity pro forma for the transaction and keep existing management in place. Rawls with âDistinguished Payments Professionalâ Star Award, Paysafe adds multiple payment options to PaySimply, HAW Capital Corp. and GOLO Inc. announce business combination agreement, Skrill becomes proud partner of Alessandro Del Pieroâs LA10 Football Club, Paysafeâs Claire Gates named one of the âMost Influential Women in Payments in 2019â, ETA recognizes two Paysafe leaders in 2019 âForty Under 40â, paysafecard and ESL extend partnership with new firsts for the esports community, AtYourGate Delivers Momentous First Year in Business, Paysafe launches ground-breaking new approach to iGaming payments, Paysafe partners with Visa to increase customer payment choice in Europe, Paysafe Recognized for its Talent Management Capabilities, Paysafe to exhibit at ICE London & London Affiliate Conference, Paysafe partners with Vindicia to enhance recurring billing revenues for merchants, Paysafe Group Appoints Walt Macnee As Non-Executive Director, Paysafe extends its collaboration with Google in five new countries, Skrillâs new international money transfer service launched with zero transfer fee and no FX mark-up, paysafecard is one of 2018âs âAustriaâs Leading Companiesâ for the fifth year running, Worldpay and Paysafe partner to develop new solution for U.S. iGaming and sports betting markets, Paytm Canada plugs into Paysafe to enhance its mobile payment solution experience for Canadians, Tara Wilson of Paysafe Groupâs Income Access Wins Silver Stevie Award, Paysafe named Best Merchant Acquirer or Processor at the Payments Awards for third year running, Paysafe Group announces global hackathon winners, Rapid Transfer launches for Skrill and NETELLER customers in the Netherlands and Belgium, NETELLER digital wallet now live in Japan, Security ranks as number one eCommerce priority for SMBs, Paysafeâs differentiated solutions and customer service recognized by independent research firm, Paysafe Group appoints Peter Smith as Chief Financial Officer, NETELLER launches in-wallet buy-and-sell cryptocurrency feature, Multiple award wins for Paysafeâs female leaders around the world, Paysafe named âBest PSP or Acquiring Solution Providerâ at the Emerging Payments Awards, paysafecard named âbest overall payment service providerâ at the 2018 CEEG Awards, Paysafe Group hosts first global hackathon to identify new ideas, talent and innovation, Paysafe Group achieves Women in Governance Parity Certification, Paysafe launches âAccelerated Fundingâ to enable fast settlements for SMBs in the US, paysafecard continues its international expansion with a launch in Montenegro, Upper Hand, Inc. plugs into Paysafe to fuel growth amongst businesses operating in the sports & fitness industry, Two thirds of UK consumers think fraud is âinevitableâ when shopping online, Skrill wallet users can now instantly buy and sell cryptocurrencies, Paysafeâs Andrea Dunlop wins âWoman in PayTechâ award, Paysafe scoops up two 2018 EGR North America Awards, Paysafe Unveils Same-Day Merchant Settlement, Half of consumers resist move to âfrictionlessâ payments due to privacy and security fears; cash continues to thrive, Paysafe completes acquisition of iPayment, Paysafe launches Paysafecash â the ground-breaking new payment solution for the âcash consumerâ, Paysafe unveils exciting new âPlug into Paysafeâ brand positioning, Paysafe Bulgaria brings new tech skills to Bulgarian schools, Paysafe scoops further global recognition as âgreat place to workâ, New collaboration between NMI and Paysafe provides partners and merchants with significant international reach and capabilities to grow their business, Paysafe Bulgaria wins Employer Brand and Investment in Human Capital award, Stuart C. Harvey, Jr. When compared with the past five years, their positioning was lower than 98% of the time.In Bank of Americaâs monthly survey of money managers, released Tuesday, tech allocation stood at an all-time low while money flowed to stocks seen as benefiting more from the economic rebound, like banks.âCyclical rotation continued in May,â BofA strategists led by Michael Hartnett wrote. For Spain, the proportion is 90%.âCountries with high impaired loans, such as Greece, Ireland, Italy and Portugal, that made greater use of moratoria schemes will face higher inflows of new impaired loans,â Fitch analysts including Francois-Xavier Deucher wrote in a report. Our industry-leading capabilities enable businesses and consumers to connect and transact seamlessly, and we support a variety of integrated partners, developers, ISOs and agents to deliver end-to-end payment … Over half of consumers would use voice to pay for low value goods, Paysafeâs Rapid Transfer enabled for PokerStarsâ customers across Europe, ZenSports expands payments offering to include Skrill, GOLO Mobile Inc. announces completion of qualifying transaction, Paysafeâs Rapid Transfer expands into US in partnership with Skrill USA, MWAA recognizes Paysafeâs O.B. Italian 10-year bond yields rose to the highest level since July on Monday as investors speculated an economic growth rebound could mean less central bank support.âThe first few EU SURE syndications were a smashing success in terms of demand,â said Martin van Vliet, a strategist at Robeco. It’s true that Paysafe’s revenue stagnated in 2020 resulting from business closures during Covid, but prior to that they reported a strong 27% CAGR (4,5), which is on par with high profile competitors: 2017: $864 million rev. (Bloomberg) -- Another week of silence from Beijing on the fate of China Huarong Asset Management Co. is stoking renewed volatility in the companyâs bonds, as traders juggle competing narratives about the prospect of a debt restructuring.Price swings have intensified in recent days amid a slew of media reports on whether Chinaâs government will allow Huarong to default, a move that would shatter the decades-long assumption that Beijing always stands behind the debt of companies owned by the central government. Foley Trasimene II Announces $9.0bn Merger with Paysafe Group •On December 7, 2020, Foley Trasimene Acquisition Corp. II (NYSE: BFT, BFT WS) (“Foley Trasimene”), a special purpose acquisition company, and Paysafe Group Holdings Limited (“Paysafe”), a leading global payments provider focused on digital … Skrill is a registered trademark of Skrill Limited. High Growth Earnings: PSFE's is expected to become profitable in the next 3 years. For ratings issued on a program, series, category/class of debt or security this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series, category/class of debt, security or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. âThis could potentially conceal the true risks in banksâ books,â the ECB said on Wednesday.A renewed increase of bad loans may undo years of post-financial crisis clean-up, when regulators pushed lenders to restructure and dispose of non-performing credit.Still, most banks are signaling that theyâre relaxed about the potential impact on asset quality of a progressive removal of credit protection. H2 2015 Group revenue of circa $380m, driven by strong growth across the Groupâs product lines, particularly in the Processing divisionâs North American business. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com. Huarong is majority owned by Chinaâs Ministry of Finance and is deeply intertwined with the nationâs $54 trillion financial industry.The turbulence in Huarong bonds has so far had a limited impact on Chinese credit markets more broadly, with yields on top-rated three-year onshore corporate notes falling to the lowest levels since July. COMPANY ACQUIRED. Questions have been swirling about the distressed debt managerâs financial health since early April, when it missed a deadline to report 2020 results.The latest bout of volatility began on May 12, after Caixin Mediaâs WeNews reported that authorities had urged Huarong to solve its issues on its own. Paysafe is based in the Isle of Man and … ..Issuer: Paysafe Group Holdings II Limited, .... Probability of Default Rating, Placed on Review for Upgrade, currently B3-PD, .... LT Corporate Family Rating, Placed on Review for Upgrade, currently B3, ....Backed Senior Secured Bank Credit Facility, Placed on Review for Upgrade, currently B3, ....Backed Senior Secured Bank Credit Facility, Placed on Review for Upgrade, currently Caa2, ....Outlook, Changed To Ratings Under Review From Stable. The Caixin report is one of the first more supportive reports from the magazine since early April and the change of tone suggests government and regulators are still working on a resolution.â- Dan Wang, analystDefaults at state-owned Chinese companies have increased in recent years as Xiâs government dialed back support for weaker borrowers to reduce moral hazard, though none of the companies that missed payments were as systemically important as Huarong.The financial giant owes domestic and international bondholders the equivalent of about $41 billion, following an ill-fated expansion under former Chairman Lai Xiaomin, who was executed for crimes including bribery in January. On Friday, when the Nasdaq 100 rallied more than 2%, the biggest exchange-traded fund tracking the benchmark saw $1 billion of outflows.Professional investors are turning more cautious on the sector. AND/OR ITS CREDIT RATINGS AFFILIATES ARE MOODY'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY'S (COLLECTIVELY, "PUBLICATIONS") MAY INCLUDE SUCH CURRENT OPINIONS. The ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure. Simplified connectivity to extend the value of your software solution. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. 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