| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for WestRock Co. > News item |
S&P assigns BBB to WRKCo notes
S&P said it is removing its ratings on WRKCo Inc. from CreditWatch and is affirming them.
S&P is assigning a BBB issue-level rating to WRKCo's proposed notes issuance and assigning BBB issuer credit rating and A-2 short-term rating to new parent holding company WestRock Co.
WestRock closed its acquisition of KapStone Paper and Packaging Corp. and is issuing senior unsecured notes under subsidiary WRKCo to refinance debt.
“The outlook is negative, indicating a 1-in-3 chance for a downgrade during the next two years. Immediately following the transaction, WestRock's credit measures are likely to deteriorate from those in the fiscal year ended Sept. 30, 2018,” S&P said in a news release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.