S&P puts Giralda Holding Conexion on developing watch

S&P said it placed its B+ ratings on Giralda Holding Conexion, SLU (Konecta) and its senior secured €420 million term loan B on CreditWatch with developing implications.

Konecta has announced an agreement to acquire Comdata SpA, an Italy-based customer relationship management and business process outsourcing player.

“We expect to resolve the CreditWatch placement when we have sufficient additional information on the company's operations and capital structure post-transaction,” S&P said in a news release.

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