S&P: Spectrum unaffected

Standard & Poor's said its ratings on Spectrum Brands Inc. are currently not affected by rumors that the company may acquire the hardware and home-improvement business of Stanley Black & Decker for about $1.5 billion.

However, if the rumors turn out to be true, the agency said it might revise its positive outlook to stable or negative, depending on its assessment of Spectrum Brands' financial and business risk profiles.

If the transaction occurs and if it is primarily financed with debt, the agency said it would anticipate pro forma debt leverage to rise to low- to mid-5x, from 4.1x, for the 12 months ended June 30.

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