S&P might lift Ozburn-Hessey

Standard & Poor's said it placed all of its ratings on Ozburn-Hessey Holding Co. LLC, including the B- corporate credit rating, on CreditWatch with positive implications.

"The CreditWatch placement follows Geodis' announcement that it is planning to buy OHL for an undisclosed amount," S&P credit analyst Tatiana Kleiman said n a news release.

"We expect that all of OHL's outstanding debt will be repaid as part of the transaction."

The transaction is subject to the customary regulatory approvals, and the agency expects that it will close later this year.

S&P plans to resolve the CreditWatch placement after the transaction closes. At that time, it expects to withdraw all ratings on the company if its rated debt is repaid as expected.

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