S&P: Sally Holdings unchanged

Standard & Poor's said that there would be no immediate impact on Sally Holdings Inc.'s (B/stable) ratings, including the B corporate credit rating, following the company's announcement that it will purchase Chapelton 21 Ltd. for about $59 million.

According to S&P, Chapelton 21 will add about 80 units to Sally Holdings.

The company plans to finance the acquisition primarily through a $57 million drawdown under its existing asset-based revolving credit facility, the agency said, noting that it believes that the acquisition will not materially alter credit metrics for Sally Holdings and that cash flow protection measures will remain appropriate for the B rating.

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