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Prospect News home > News index > List of issuers K > Headlines for Knowles Electronics Holdings, Inc. > News item |
Moody's may raise Knowles
Moody's Investors Service said it placed Dover Corp.'s A1 senior unsecured rating under review for possible downgrade following the announcement that it will acquire Knowles Electronics Holdings Inc. for $750 million in a cash transaction. The rating agency also placed the ratings of Knowles (corporate family rating of B3) on review for possible upgrade.
Ratings placed on review for possible upgrade include Knowles Electronics Holdings Inc.'s corporate family rating of B3, the senior secured credit facilities rated B3 and the senior subordinated notes due 2009 rated Caa2.
Moody's said it anticipates that the Knowles bank debt and subordinated notes will be repaid as part of the acquisition.
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