Moody’s: AEP unaffected by acquisition

Moody's Investors Service said AEP Industries, Inc.'s (B2 stable) ratings and outlook are not immediately impacted by Berry Plastics Group, Inc.'s (B1 under review for downgrade) announcement that it entered into a definitive merger agreement to acquire all of the outstanding shares of AEP in a cash and stock transaction.

AEP's debt is expected to be refinanced in the transaction, which would result in the withdrawal of the ratings.

However, if the debt is not refinanced or the deal does not close as proposed, Moody’s said it will assess the rating impact, if any, based upon the facts and circumstance of the new terms.

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