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S&P puts Great Lakes Dredge & Dock on positive watch
Standard & Poor's said it placed its ratings, including its CCC+ corporate credit rating, on Great Lakes Dredge & Dock Corp. on CreditWatch with positive implications.
The agency noted that the CreditWatch placement follows the company's announcement that its parent company has signed a merger agreement with Aldabra Acquisition Corp.
Aldabra will exchange $160 million of its stock for each share of Great Lakes' capital stock issued and outstanding, S&P said.
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