Payments processor First Data Corp. said it has received $3.5 billion in new investment, financially stabilizing the firm and reducing its debt burden.
The payments processor attracts more money from existing investors and picks up new ones.
Payments processor announces CEO Frank Bisignano has done such a good job, he's also been named chairman of the board.
At least one ratings agency has approved a move by private equity firm KKR & Co. and other investors to inject another $300 million into First Data Corp., a major payments processing firm used by both credit unions and banks.
Fitch gives "modest positive" to KKR move to retire most of $2 billion in 11.5% debt from 2007 private equity takeover.