Moody's: Hawk unchanged

Moody's Investors Service said Hawk Corp.'s news that it signed a definitive agreement to be acquired by Carlisle Cos. Inc. does not have an impact on its B2 corporate family rating.

The purchase price of $413 million reflects Carlisle's intent to buy Hawk's outstanding shares for $50 per share in an all-cash transaction, the agency said.

Carlisle is expected to assume and pay off at a premium, Hawk's outstanding $56 million senior unsecured notes due October 2014, which are rated B3, Moody's said.

Upon successful completion of the acquisition and redemption of the notes, the agency said it will withdraw all ratings of Hawk.

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