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S&P might cut Dun & Bradstreet
S&P said it placed its BB+ issuer credit and issue-level ratings on Dun & Bradstreet Corp. on CreditWatch with negative implications.
The agency said the CreditWatch placement follows the announcement that Dun & Bradstreet has entered into a definitive merger agreement to be acquired by an investor group led by CC Capital, Cannae Holdings and funds affiliated with Thomas H. Lee Partners LP and including a group of other investors for $6.9 billion including the assumption of $1.5 billion of Dun & Bradstreet’s net debt and net pension obligations.
“We aim to update our CreditWatch placement within 90 days as more information regarding the acquisition financing, shareholder and regulatory approvals, proposed operating model and alternative bidders becomes available,” S&P said in a news release.
“However, we expect our ratings to remain on CreditWatch until the transaction closes in the first quarter of 2019.”
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