S&P puts Overwatch on positive watch

Standard & Poor's said it placed Overwatch Systems LLC's B+ corporate credit and senior secured debt ratings on CreditWatch with positive implications following the announcement that the company will be acquired by Textron Inc. (A-/stable/A-2) for $325 million. The transaction is subject to customary regulatory approvals and is expected to close by the end of the year.

The agency said Overwatch's ratings will likely be withdrawn after the close, as all rated debt is expected to be repaid.

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