S&P: Manitowoc unchanged

Standard & Poor's said its ratings and outlook on Manitowoc Co. Inc. (BB/stable) are not affected by the company's announcement that it has raised its bid to acquire Enodis plc to about $2.4 billion from about $2.1 billion, including the assumption of Enodis' net debt.

The acquisition would enhance Manitowoc's business profile by expanding its global presence in the more stable food service market, the agency said.

At the existing ratings, S&P added that Manitowoc has significant debt capacity to absorb an acquisition of this size.

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