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S&P puts Interline on positive watch
Standard & Poor's said it placed Interline Brands Inc.’s B corporate credit rating on CreditWatch with positive implications.
The positive watch placement follows news that Interline has agreed to be acquired by Home Depot for $1.625 billion in cash, the agency said.
Home Depot expects to complete the acquisition in its fiscal third quarter, which ends Nov. 1, S&P said.
The acquisition is subject to regulatory approvals and customary closing conditions, including the repayment of Interline's outstanding senior notes, the agency said.
The CreditWatch placement will be resolved after the acquisition closes, S&P said.
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