S&P puts Triton International on positive watch

S&P said it placed all its ratings on Triton International Ltd., including the BBB- issuer credit rating, on CreditWatch with positive implications.

Triton announced that it has agreed to be acquired by Brookfield Infrastructure Partners LP (BIP) for a total $13.3 billion, including the assumption of debt.

“The CreditWatch placement reflects that we expect to raise our ratings on Triton by one notch – likely in the fourth quarter of 2023 when we expect the transaction will close – based primarily on its prospective capital structure and importance to higher-rated BIP,” S&P said in a news release.

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