Moody's: Olin unaffected

Moody's Investors Service said it does not anticipate any changes to Olin Corp.'s rating or outlook following the company's announcement that it signed a definitive agreement to acquire KA Steel Chemicals Inc. for $328 million in cash.

Olin is paying a high multiple of current EBITDA that will initially weaken credit metrics. However, this acquisition should benefit Olin's credit profile over time as the transaction expands the company's footprint and grows cash flow as it realizes synergies, the agency said.

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