S&P: Altegrity on developing watch

Standard & Poor's said it placed all of its ratings on Altegrity Inc., including the B- corporate credit rating, on Creditwatch with developing implications, which indicates that it could raise or lower the ratings.

"The Creditwatch placement follows Altegrity's proposed $1.13 billion acquisition of Kroll Inc. from Marsh & McLennan Cos., uncertainty relating to the combined entity's pro forma capital structure and credit measures, and Altegrity's ability to comply with its leverage covenant, which steps down on Sept. 30, 2010," said S&P credit analyst Jerry Phelan.

S&P said that it expects the transaction to close by late September.

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