|
|
 |
|
Viewing report
|
|
|
|
Brand Services Inc. 'B' Rating Placed on CreditWatch Developing After Acquisition Announcement Aug 02
Standard & Poors, Aug 2002
Abstract
NEW YORK (Standard & Poor's) Aug. 12, 2002--Standard & Poor's Rating Services said today that it placed its single-'B' long-term corporate credit rating for St. Louis-based Brand Services Inc. on CreditWatch with developing implications. Total debt is about $177 million. Brand Services is the largest provider of industrial scaffolding services. 'The CreditWatch placement follows Brand's announcement that J.P Morgan Partners, the private equity arm of J.P. Morgan Chase & Co., has signed a definitive agreement to acquire Brand Services for about $500 million,' noted Standard & Poor's credit analyst Steven K. Nocar. 'The CreditWatch listing reflects the potential for the ratings to be raised, lowered, or maintained, depending on the prospective capitalization of the company, and the attendant effect on...
Companies mentioned in this report are: Brand Services Inc.,JPMorgan Chase & Co.
Action: On CreditWatch:Developing
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
