S&P: FTD unaffected

Standard & Poor's said its ratings and outlook on FTD Inc. (B+/stable) are unaffected by the company's proposed $121 million acquisition of Interflora Holdings Ltd.

Although the transaction is expected to be largely debt-funded and will result in debt leverage increasing to over 4 times from about 3.5 times for the 12 months ended March 31, credit measures would still remain in line with the current rating, the agency noted.

In addition, S&P said it believes this acquisition is a good strategic fit, given that Interflora operates a similar business model and provides FTD with growth opportunities in Europe.

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