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S&P puts Parex on positive watch
S&P said it placed on CreditWatch with positive implications the B long-term issuer credit rating on Financiere Dry Mix Solutions SAS (Parex) and a B issue rating on its €865 million term loan B.
The CreditWatch placement follows the announcement on Jan. 8 that Sika AG plans to acquire Parex.
“The positive CreditWatch placement reflects our view that we could raise or affirm the ratings on Parex. We plan to resolve the CreditWatch placement after the transaction closes,” S&P said in a news release.
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