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S&P: LJVH on developing watch
Standard & Poor's said it placed all of its ratings, including its B long-term corporate credit rating, on LJVH Holdings Inc. and its subsidiaries on Creditwatch with developing implications.
"This rating action follows the announcement of an executed Share Purchase Agreement by which Vermont-based Green Mountain Coffee Roasters Inc. will acquire all of LJVH Holdings' outstanding shares for a cash purchase price of $890 million," said S&P credit analyst Lori Harris.
"We expect the acquisition to close by the end of 2010, subject to certain approvals," Harris added.
Should the transaction be completed, the agency said it believes that LJVH Holdings' debt will be repaid upon closing.
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