Moody’s changes Sensata outlook to negative

Moody's Investors Service said it changed Sensata Technologies BV's rating outlook to negative from stable and affirmed all debt ratings, including the Ba2 corporate family rating.

The change in outlook is to reflect Sensata's announcement that it reached an agreement to acquire Custom Sensors & Technologies' (CST, B2 stable) sensor businesses for a total enterprise value of about $1 billion.

Moody's lowered the speculative grade liquidity rating to SGL-3 from SGL-2.

CST's ratings, including its B2 corporate family rating, are unaffected by this action.

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