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Published on 8/20/2012 in the Prospect News Bank Loan Daily and Prospect News Convertibles Daily.

S&P: Getty Images on watch

Standard & Poor's said it placed its BB- rating on Getty Images Inc., along with all issue-level ratings on its debt, on CreditWatch with negative implications.

The agency said the CreditWatch placement is based on Getty Images' announcement that it will be acquired by private-equity investor Carlyle Group LP for about $3.3 billion. The agency said it expects both debt leverage and financial risk to increase with the acquisition.

S&P also said that Getty's second-quarter performance was below its expectations.


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