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Research Update: Martin Marietta Materials Inc. Ratings Placed On CreditWatch Negative Dec 11
Standard & Poors, December 2011
Martin Marietta Materials Inc. has launched an unsolicited offer to acquire aggregates producer Vulcan Materials Co. in an all-stock transaction valued at about $4.7 billion. We are placing the ratings on Martin Marietta, including its 'BBB+' corporate credit rating, on CreditWatch with negative implications. In resolving the CreditWatch placements we will monitor ongoing developments relative to the offer and will review our ratings on both companies when, and if, a definitive acquisition is announced and we have the opportunity to review the combined company's operating and financial objectives. On Dec. 13, 2011, Standard & Poor's Ratings Services placed its ratings on Martin Marietta Materials Inc., including its 'BBB+' corporate credit rating, on CreditWatch with negative implications. The CreditWatch listing follows...
Companies mentioned in this report are: Martin Marietta Materials Inc.,Vulcan Materials Co.
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Martin Marietta Materials Inc.,Vulcan Materials Co.