#HARLAND CHECK PRINTING UPDATE#

(For the complete corporate credit rating rationale, see Standard & PoorвЂ™s research update on Harland Clarke, published on May 1, 2012.) RELATED CRITERIA AND RESEARCH

We believe these dynamics will result in the companyвЂ™s organic revenue declining at a low-single-digit percent pace. The companyвЂ™s exposure to a secular shift from printed check usage to alternative forms of payment underpins our assessment of the business risk profile as вЂњweakвЂќ (based on our criteria).

The financial policy of the company and its parent and the companyвЂ™s high leverage are the principal reasons we consider HCHCвЂ™s financial risk profile вЂњaggressiveвЂќ (based on our criteria). The вЂB+вЂ™ rating reflects our expectation that leverage will not meaningfully increase but will remain high, that check printing will remain in long-term decline, and that the financial policy of the companyвЂ™s parent, private-equity investor M&F Worldwide Corp. (For the complete recovery analysis, see Standard & PoorвЂ™s recovery report on Harland Clarke, to be published following this report on RatingsDirect.) The вЂB+вЂ™ corporate credit rating on Harland Clarke and the stable rating outlook remain unchanged. The company intends to use the proceeds of the new notes, net of fees and expenses, to repay a portion of the extended term loan due 2017.

We assigned the debt an issue-level rating of вЂB+вЂ™ (the same as the corporate credit rating on Harland Clarke) and a recovery rating of вЂ3вЂ™, indicating our expectation of meaningful (50%-70%) recovery in the event of a payment default. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA.May 11 - Standard & PoorвЂ™s Ratings Services said today that it assigned issue-level and recovery ratings to Harland Clarke Holdings Corp.вЂ™s proposed $295 million senior secured notes due 2019. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD Bank in the MSA. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. Costco Checks are available to customize and purchase at provided by Harland Clarke Check Printing. or any of its affiliates and, may be subject to investment risk, including possible loss of value.Дata as of March 2018. Securities and other investment and insurance products are: not a deposit not FDIC insured not insured by any federal government agency not guaranteed by TD Bank, N.A. Important Disclosure Regarding Deposit Insurance on Noninterest-bearing Transaction Accounts (FDIC) Site Map | Privacy | Online Advertising | Security | Accessibility | Terms of Use | Bank Deposits FDIC Insured | Equal Housing Lender Instead call us at 80 or visit your local TD Bank. However, do not order online if you're placing your first order of checks or have a change of address. If you're not a BusinessDirect customer, you can place your reorder directly with Harland Clarke.* Go to the Service Center and select Order Checks. You may reorder checks by logging in to BusinessDirect. Once you complete your order, charges will automatically be debited from your TD Bank account and your order will be shipped to the address on your account. For a fee you may also choose to use additional delivery and tracking services, including overnight shipping. Prices vary and will be provided at the time you place your order. When you place your order, you will need your TD Bank account number and the TD Bank routing number. We will authenticate your identity so Harland Clarke can process future orders from you.

You've never ordered checks with us before.

You're not a TD Bank Online Banking customer, and.

SECURITY NOTE: If you changed the address on your account within the last 3 business days, then you must either place your check order at your local TD Bank or wait 3 days to place your online order.ДЇor your security, you must call or visit us to place your first order if:

Your check ordering information will be securely sent to Harland Clarke so you'll be sure to receive your order on time and without errors.

Go to Account Options, then choose 'Account Services' and select Order Checks. You can even order deposit slips for your savings account.ДЇrequently Asked Questions about ordering checks What's the easiest way to order checks?

#HARLAND CHECK PRINTING PLUS#

With TD Bank and our check provider, Harland Clarke, you'll find a wide selection of check styles вЂ“ plus address labels, checkbook covers and much more вЂ“ that are sure to suit your personal tastes and budget.

Harland check printing