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S&P puts U.S. Concrete on positive watch
S&P said it placed all its ratings on U.S. Concrete Inc., including the BB- issuer credit rating, on CreditWatch with positive implications.
U.S. Concrete entered into a definitive agreement to merge with Vulcan Materials Co. for $74 per outstanding share and including U.S. Concrete’s debt.
“The CreditWatch placement reflects our view that the transaction will enhance USCR's credit position because it is being acquired by a much larger and more lowly leveraged company,” S&P said in a news release.
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