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 that works with both credit unions and banks.

KKR and other investors took the payments processor private for roughly $30 billion in 2007, according to press reports at the time. 

Atlanta-based First Data has never said exactly how many financial institutions process card payments with the firm, but industry experts estimate between 500 and 1,000 credit unions are First Data clients.

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