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S&P: Diversey up, off watch
Standard & Poor's said it raised its corporate credit rating on Diversey Holdings Inc. and its operating subsidiary Diversey Inc. to BB from B+ and removed it from CreditWatch with positive implications, where it was placed on June 1. The outlook is stable.
S&P said the upgrade follows the close of Diversey's acquisition by Sealed Air Corp.
"We raised our corporate credit rating on Diversey and removed it from CreditWatch to reflect our view that its credit quality is now aligned with Sealed Air following the recent completion of Sealed Air's purchase of Diversey. Immediately thereafter, we withdrew all ratings on Diversey at the company's request," said S&P credit analyst Liley Mehta in a news release.
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