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S&P reviews Owens & Minor
S&P said it placed the ratings on Owens & Minor Inc., including the BBB- corporate credit rating, on CreditWatch with negative implications.
The agency said the placement follows Owens & Minor's announcement that it will acquire Halyard Health's surgical and infection prevention business for about $710 million.
“We expect the company to finance a portion of the transaction with debt, resulting in a material increase in adjusted debt leverage, which is a departure from our current base-case expectations for the company to operate with debt leverage between 2x-3x,” S&P said in a news release.
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