S&P puts KSS Holdings on watch

S&P said it placed all of the ratings on KSS Holdings Inc. on CreditWatch with developing implications.

The agency said the placement follows Key Safety Systems' announcement that it will acquire substantially all of Takata's global assets and operations for a purchase price of $1.588 billion.

S&P said it will resolve the CreditWatch placement over the next 90 days when it has more information regarding KSS' proposed capital structure and likely financial policy under its ultimate ownership structure.

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