S&P: Associated Materials on developing watch

Standard & Poor's said it placed the B- corporate credit rating on Associated Materials LLC and its parent company AMH Holdings LLC, on CreditWatch with developing implications.

The CreditWatch listing follows news that Hellman & Friedman LLC had signed a definitive agreement to acquire Associated Materials LLC for about $1.3 billion in total consideration.

The agency said it expects the company's existing debt will be replaced with a new, simplified capital structure, the terms of which are yet to be disclosed.

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