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Published on 3/28/2012 in the Prospect News Investment Grade Daily.

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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