S&P: Wesco unchanged

Standard & Poor's said its ratings and outlook on Wesco International Inc. (BB-/stable) and its principal operating subsidiary, Wesco Distribution Inc., are not affected by the company's plan to repurchase $400 million of common stock.

The program is expected to be completed in the 2007 calendar year and will be funded with capacity currently available under the company's working capital facilities, the agency said.

S&P noted that it expects that Wesco will be able to maintain liquidity and credit metrics, including funds from operations to debt and leverage ratios, that are adequate for the current ratings after funding the share repurchase program.

However, S&P said it notes that this sizable share repurchase program follows closely the $525 million acquisition of Communications Supply Holdings Inc.

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