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S&P: NCO on developing watch
Standard & Poor's said it placed its B+ long-term counterparty credit rating on NCO Group Inc. on CreditWatch Developing.
On Dec. 12, the agency said NCO entered into a definitive agreement to acquire Outsourcing Solutions Inc. (unrated) for $325 million in cash.
Funding will be provided by increased borrowings under its senior credit facility and an additional investment from One Equity Partners, NCO's private equity owners, the agency noted.
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