| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for Sequa Corp. > News item |
S&P: Sequa on watch
Standard & Poor's said it placed its ratings, including the BB- corporate credit rating, on Sequa Corp. on CreditWatch with negative implications.
The agency said that the CreditWatch placement follows announcement by Sequa that it will be acquired by private equity firm Carlyle Group in a transaction valued at $2.7 billion, including $700 million of debt.
The acquisition, expected to close in the fourth quarter of 2007, is likely to result in a more leveraged capital structure than currently, S&P said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.