S&P might upgrade Bemis

S&P said it affirmed its ratings, including the BBB- issuer credit rating, on Bemis Co. Inc. and placed them on CreditWatch with positive implications.

Amcor Ltd. and Bemis have entered into a definitive agreement whereby Amcor will acquire Bemis in an all-stock transaction pending regulatory and shareholder approval.

“The CreditWatch positive placement reflects a view that we are likely to affirm or raise our ratings on Bemis upon the close of the transaction, which management believes will be completed by the first quarter of 2019,” the agency said in a news release.

“We expect to equalize the ratings on Bemis with those on Amcor upon the deal's closing, as we would view Bemis as a core subsidiary.”

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