S&P: Alliance Laundry unaffected

Standard & Poor's said the ratings and outlook on Alliance Laundry Systems LLC (B/negative/--) would not be immediately affected following Alliance Laundry's parent company's announcement that it had signed a definitive agreement to sell the company for about $450 million.

At the same time, the company withdrew its S-1 registration statement (originally filed with the Securities and Exchange Commission on April 13) for an initial public offering of income deposit securities representing shares of the parent's common stock and subordinated debt.

While financing of the transaction has yet to be disclosed, S&P said it expects that Alliance Laundry's financial profile will remain essentially the same.

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