S&P says Aleris unchanged

Standard & Poor's said that its ratings and outlook on Aleris International Inc. (B+/stable/--) remain unchanged following the company's announcement that it has a definitive agreement to purchase all the outstanding equity of Alsco Holdings Inc. for $150 million in cash.

Alsco manufactures residential aluminum building products for the new home, home-improvement and remodeling markets.

S&P said it views this transaction as a slight benefit to Aleris' business risk profile, primarily because of additional diversity and forward integration. Financial leverage as measured by debt to EBITDA is not expected to change meaningfully. However, liquidity will be reduced, as the company plans to fund this acquisition with cash on hand and revolving credit facility borrowings.

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