S&P: Steinway unaffected

Standard & Poor's said Thursday that Steinway Musical Instruments Inc.'s (BB-/negative/--) agreement to acquire the assets of G. Leblanc Corp. for $36 million would not affect Steinway's ratings or outlook.

S&P said it expects that this acquisition will modestly broaden Steinway's band instrument product lines with the well-known Leblanc brand clarinets, Holton brand French horns, and Martin brand trumpets and trombones. The acquisition is expected to be financed in a manner consistent with the current rating.

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