S&P puts Eaton Vance on developing watch

S&P said it placed its A- long-term issuer credit and senior unsecured debt ratings on Eaton Vance Corp. on CreditWatch with developing implications.

The placement follows Morgan Stanley’s announcement it plans to acquire the company for about $7 billion in cash and stock, S&P said.

“While numerous benefits could arise from this acquisition, including broader distribution capabilities, a larger global footprint, and potential savings within the operating structure, key details about the combined entity remain uncertain at this point,” the agency said in a press release.

S&P said it expects to resolve the placement once the transaction closes.

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