New York, September 16, 2015 -- Moody's Investors Service commented that the announcement by DENTSPLY International Inc. ("DENTSPLY") and Sirona Dental Systems Inc. that they have entered into a definitive merger agreement, under which the two companies will combine in an all-stock transaction valued at $13.3 billion, is credit positive. We believe the deal provides several benefits, including initially deleveraging the company, lowering the company's cost structure through synergies and diversifying DENTSPLY's product portfolio. However, the transaction has no effect on DENTSPLY's Baa2 senior unsecured rating. The rating outlook is stable. Sirona is unrated.

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