S&P: Lindley on positive watch

Standard & Poor’s said it placed Corporacion Lindley SA’s BB+ long-term corporate credit and issue-level ratings on CreditWatch with positive implications following news that Arca Continental SAB de CV reached an agreement to acquire 53.16% of Corporacion Lindley’s capital.

Assuming the transaction is completed, S&P said it could raise the ratings on the company depending on an assessment of the potential support from its new parent company.

The agency said it does not expect substantial operating changes to Lindley following this acquisition.

But Lindley could benefit from both the potential synergies and Arca Continental’s expertise in other countries of Latin America in the bottling industry, S&P said.

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