Moody's may drop Contech

Moody's Investors Service said it placed the ratings of Contech Construction Products Inc.'s on review for possible downgrade following the announcement that Apax Partners, LP is in the process of acquiring control of the company for a total purchase price of about $1 billion.

In its review, Moody's said it will assess the credit worthiness of Contech's new capital structure, its outlook for continued strong growth and its ability to delever over the next few years.

Affected Ba3 ratings include the company's $100 million senior secured revolver due 2009, $325 million senior secured term loan B due 2010 and corporate family rating.

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