S&P: Alfa Laval on watch

Standard & Poor's said it placed its A- long-term corporate credit rating on Alfa Laval AB on CreditWatch with negative implications.

The CreditWatch placement follows the announcement that Alfa Laval plans to acquire Norway-based submerged pumping systems manufacturer Frank Mohn A/S (not rated).

S&P said it understands Alfa Laval plans to finance the transaction through debt, implying that the company's S&P-adjusted debt will almost quadruple to about SEK 19 billion at the time of the acquisition.

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