29.04.2015 20:24:00
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Spectrum Brands, Inc. -- Moody's places Spectrum Brands' B1 CFR on review for downgrade on Armored Auto acquisition
New York, April 29, 2015 -- Moody's Investors Services ("Moody's") placed the B1 Corporate Family Rating (CFR) of Spectrum Brands, Inc. ("Spectrum" or "Spectrum Brands") under review for downgrade following the company's announcement yesterday that it has entered into an agreement to acquire Armored AutoGroup Parent Inc. ("Armored Auto") from Avista Capital partners for approximately $1.4 billion. The SGL 2 speculative grade liquidity rating is not on review, but is subject to change.