Moody’s might lower West

Moody's Investors Service said it placed the ratings of West Corp. on review for downgrade following the company's announcement that it entered into an agreement to be acquired by funds affiliated with Apollo Global Management, LLC in a transaction valued at approximately $5.1 billion, including net debt.

The acquisition is expected to close in the second half of 2017.

The affected ratings include West's B1 corporate family rating, B1-PD probability of default rating and the Ba3 and B3 ratings for the company's senior secured and senior unsecured debts, respectively. The company's SGL1 rating is unchanged.

Moody’s said the action reflects its expectations for a significant increase in debt upon the close of the acquisition and the resulting deterioration in credit metrics.

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