Moody’s might lift Armored Autogroup

Moody's Investors Service said it placed the ratings for Armored Autogroup Inc. under review for upgrade following the announcement that Armored's parent company, Armored Autogroup Parent Inc., is being acquired for $1.4 billion by Spectrum Brands Inc.

Spectrum Brands will assume Armored Autogroup Parent’s debt in connection with the transaction.

The transaction is expected to close on or before June 30 subject to applicable regulatory approvals and customary closing conditions. If for some reason the transaction does not close as anticipated, Armored's ratings will be re-evaluated at that time.

© 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.