Moody's could lower Williams Scotsman

Moody's Investors Service said it placed all ratings of Williams Scotsman, Inc. on review for downgrade after the company announced that it would be acquired by the parent company of Algeco for $2.2 billion.

The company has corporate family and senior secured credit facility ratings of B1 and senior unsecured notes rated B2.

The agency's review will focus on the proposed acquisition, which could change the capital structure of the company.

Moody's said that it's possible that leverage could increase at both the operating and holding companies given an initial review of the deal. Also the company said it intends to solicit alternative proposals from third parties, which the agency said brings added uncertainty to the ultimate capital structure of the company.

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