S&P: Liberty Group on watch developing

Standard & Poor's said it placed its B corporate credit and senior secured debt ratings on Liberty Group Publishing Inc. and its operating subsidiary, Liberty Group Operating Inc., on CreditWatch developing.

S&P said the CreditWatch listing reflects the approval by Liberty Group Publishing's board of directors and its shareholders, including affiliates of Leonard Green & Partners LP, of a definitive agreement for the company to be acquired by an affiliate of Fortress Investment Group LLC.

S&P said it expects that the transaction will be funded with a combination of debt and equity.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.