Moody’s reviews HRG Group

Moody's Investors Service said it placed HRG Group, Inc.’s ratings on review for upgrade following the Feb. 26 announcement that Spectrum Brands, Inc. (B1 stable) and HRG reached a definitive merger agreement in which Spectrum Brands will combine with HRG.

As a result, HRG's shareholders will effectively hold HRG's interests in Spectrum Brands following the combination. The number of shares HRG's stockholders will receive at the closing will be adjusted to reflect HRG's net debt position.

HRG expects the transaction to close by June.

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