Fitch could lift DRS

Fitch Ratings said it placed DRS Technologies, Inc.'s issuer default rating of B+ on Rating Watch positive after Finmeccanica SpA said it agreed to buy the company for $5.2 billion.

Affected ratings also include the senior subordinated notes at B/RR5 and the senior secured revolving credit facility, senior secured term loan, senior unsecured notes and senior unsecured convertible notes at BB+/RR1.

The possible upgrade is based on the likelihood of lower debt at DRS as a result of the deal, according to the agency.

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