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S&P puts HUB on watch
Standard & Poor's said it affirmed all of its ratings, including the B corporate credit rating, on HUB International Ltd. and placed them on CreditWatch with negative implications.
"The CreditWatch placement follows HUB's announcement that it has reached a definitive agreement to be acquired by Hellman & Friedman in a $4.4 billion transaction. The deal will give the private equity firm a majority stake in HUB; other terms of the transaction were not disclosed," said S&P credit analyst Julie Herman in a news release.
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