S&P puts Norcraft on positive watch

Standard & Poor’s said it placed its B+ corporate credit rating and BB- senior secured term loan on Norcraft Cos. LP on CreditWatch with positive implications.

S&P said the rating action reflects Norcraft’s announcement that it has signed a merger agreement with Deerfield, Ill.-based-Fortune Brands Home & Security Inc., a $4 billion home and security products company and the largest manufacturer of kitchen and bathroom cabinetry in the United States.

© 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.