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S&P: Pentair on positive watch
Standard & Poor's said it placed Pentair Inc.'s BBB- corporate credit rating on CreditWatch with positive implications.
Pentair has announced that it plans to merge with Tyco International Ltd.'s flow control business, S&P said.
The CreditWatch placement reflects a view that the combined entity would likely have a stronger business risk profile than Pentair's on a stand-alone basis, the agency said.
Tyco's flow control business will add diversity, scale and scope to Pentair's operations, S&P said.
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