\nEVERTEC, Inc. (NYSE: EVTC) (\u201cEvertec\u201d or the \u201cCompany\u201d) today announced that Moody\u2019s Investors Services (\u201cMoody\u2019s\u201d) has upgraded Evertec\u2019s corporate family credit rating to B1 from B2. Moody\u2019s also upgraded the ratings on Evertec\u2019s senior secured bank credit facilities to B1 from B2. Moody\u2019s cited its expectation that Evertec will continue to grow revenues while also maintaining very good liquidity and moderate leverage, as well as further diversifying its business as primary reasons for the upgrade.\n<\/p>\n
\n\u201cWe are very pleased with Moody\u2019s decision to raise our credit ratings,\u201d said Joaqu\u00edn Castrillo, Chief Financial Officer. \u201cThis upgrade reflects the strength of our market position, cash generation, and balance sheet.”\n<\/p>\n
About Evertec<\/b><\/p>\n
\nEVERTEC, Inc. (NYSE: EVTC) is a leading full-service transaction processing business in Puerto Rico, the Caribbean and Latin America, providing a broad range of merchant acquiring, payment services and business process management services. Evertec owns and operates the ATH\u00ae network, one of the leading personal identification number (\u201cPIN\u201d) debit networks in Latin America. In addition, the Company manages a system of electronic payment networks and offers a comprehensive suite of services for core banking, cash processing and fulfillment in Puerto Rico, that process approximately three billion transactions annually. The Company also offers technology outsourcing in all the regions it serves. Based in Puerto Rico, the Company operates in 26 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with \u201cmission-critical\u201d technology solutions. For more information, visit\n<\/p>\n
www.evertecinc.com<\/a>.\n<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nCertain statements in this press release constitute \u201cforward-looking statements\u201d within the meaning of, and subject to the protection of, the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of EVERTEC to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by, or that otherwise include the words \u201cbelieves,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cintends,\u201d \u201cprojects,\u201d \u201cestimates,\u201d and \u201cplans\u201d and similar expressions of future or conditional verbs such as \u201cwill,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cmay,\u201d and \u201ccould\u201d are generally forward-looking in nature and not historical facts. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements.\n<\/p>\n \nVarious factors that could cause actual future results and other future events to differ materially from those estimated by management include, but are not limited to: the Company\u2019s reliance on its relationship with Popular, Inc. (“Popular”) for a significant portion of revenue pursuant to the Master Services Agreement (MSA) with Popular and to grow the Company’s merchant acquiring business; as a regulated institution, the likelihood the Company will be required to obtain regulatory approval before engaging in certain new activities or businesses, whether organically or by acquisition, and the Company\u2019s potential inability to obtain such approval on a timely basis or at all, which may make transactions more expensive or impossible to complete, or make the Company less attractive to potential sellers; the Company’s ability to renew its client contracts on terms favorable to the Company, including the Company’s contract with Popular, and any significant concessions the Company may have to grant to Popular with respect to pricing or other key terms in anticipation of the negotiation of the extension of the MSA, both in respect of the current term and any extension of the MSA; dependence on the Company’s processing systems, technology infrastructure, security systems and fraudulent payment detection systems, as well as on the Company\u2019s personnel and certain third parties with whom the Company does business and the risks to the Company’s business if systems are hacked or otherwise compromised; our ability to develop, install and adopt new software, technology and computing systems; a decreased client base due to consolidations in the financial-services industry; the credit risk of the Company\u2019s merchant clients, for which the Company may also be liable; the continuing market position of the ATH\u00ae network; a reduction in consumer confidence, whether as a result of a global economic downturn or otherwise, which leads to a decrease in consumer spending; the Company\u2019s dependence on credit card associations, including any adverse changes in credit card association or network rules or fees; changes in the regulatory environment and changes in international, legal, tax, political, administrative or economic conditions; the geographical concentration of the Company\u2019s business in Puerto Rico and its instrumentalities, which are facing severe political and fiscal challenges; additional adverse changes in the general economic conditions in Puerto Rico, whether as a result of the government\u2019s debt crisis or otherwise, including the continued migration of Puerto Ricans to the U.S. mainland, which could negatively affect our customer base, general consumer spending, our cost of operations and our ability to hire and retain qualified employees; operating an international business in Latin America and the Caribbean, in jurisdictions with potential political and economic instability; the Company\u2019s ability to execute its geographic expansion and acquisition strategies, including challenges in successfully acquiring new businesses and integrating and growing acquired businesses; the Company\u2019s ability to protect the Company\u2019s intellectual property rights against infringement and to defend the Company against claims of infringement brought by third parties; the Company\u2019s ability to comply with U.S. federal, state, local and foreign regulatory requirements; evolving industry standards and adverse changes in global economic, political and other conditions; the Company\u2019s level of indebtedness and restrictions contained in the Company\u2019s debt agreements, including the senior secured credit facilities, as well as debt that could be incurred in the future; the Company\u2019s ability to prevent a cybersecurity attack or breach in the Company\u2019s information security; the possibility that the Company could lose its preferential tax rate in Puerto Rico; the possibility of future catastrophic hurricanes, earthquakes and other potential natural disasters affecting our main markets in Latin America and the Caribbean; uncertainty related to the effect of the discontinuation of the London Interbank Offered Rate at the end of 2021; the nature, timing and amount of any restatement; and the continued impact of COVID-19 pandemic and measures taken in response to the outbreak, on our resources, net income and liquidity due to current and future disruptions in operations as well as the macroeconomic instability caused by the pandemic.\n<\/p>\n \nConsideration should be given to the areas of risk described above, as well as those risks set forth under the headings \u201cForward-Looking Statements\u201d and \u201cRisk Factors\u201d in the reports the Company files with the SEC from time to time, in connection with considering any forward-looking statements that may be made by the Company and its businesses generally. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless the Company is required to do so by law.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210805005615\/en\/<\/a><\/span><\/p>\n Investor Contact KEYWORDS:<\/b> Caribbean Puerto Rico United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Professional Services Data Management Technology Finance Software Banking<\/p>\n<\/p>\n
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<\/b>(787) 773-5442
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IR@evertecinc.com<\/a><\/p>\n
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