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Moody's: Carlisle purchase negative implications
Moody's Investors Service said news that Carlisle Cos. Inc. plans to acquire Tri-Star Electronics International from Brockway Moran & Partners for $285 million has credit negative implications.
The acquisition represents the third significant purchase by Carlisle over the last 12 months and will add to its debt burden, Moody's said.
Although Tri-Star will contribute incremental resources to Carlisle's existing interconnect segment, Carlisle's leverage and coverage metrics are expected to experience some weakening, the agency said.
The funding also will reduce availability under Carlisle's recently closed $600 million revolving credit commitment, Moody's added.
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