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S&P places LD Intermediate on CreditWatch positive
S&P said it placed LD Intermediate Holdings Inc.’s CCC+ issuer credit rating on CreditWatch with positive implications, pending a merger with Pivotal Acquisition Corp., a public special-purpose acquisition company.
The reverse merger is expected to close in the third quarter at which time the company will repay $136 million of debt and fund $75 million of cash to the balance sheet.
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