Moody's: Goodman Global acquisition is positive

Moody's Investors Service said the announced acquisition by Japan-based Daikin Industries, Ltd. of U.S.-based HVAC manufacturer Goodman Global Inc. is positive for Goodman's credit quality due to Daikin's larger size, global footprint and stronger financial profile.

Moody's said it expects no rating change for Goodman based on the change of control provision in the rated debt facilities, which require they be repaid with the close of the acquisition.

The Goodman ratings are anticipated to be withdrawn with the close of the purchase by Daikin.

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