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S&P puts W/S Packaging on watch
S&P said it placed its B issuer credit rating on W/S Packaging Holdings Inc. on CreditWatch with negative implications.
The CreditWatch placement follows the announcement that W/S and its sponsor, Platinum Equity, plan to acquire Multi-Color Corp. for $2.5 billion.
“Upon close of the transaction, we expect to lower the issuer credit and debt ratings on W/S Packaging by at least one notch,” S&P said in a news release.
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