S&P puts Braas Monier on positive watch

S&P said it placed Braas Monier Building Group SA’s BB- long-term and B short-term corporate credit ratings on CreditWatch with positive implications.

The agency also said it placed the BB- ratings on Braas Monier's €200 million revolving credit facility and €435 million notes on CreditWatch with positive implications.

These facilities were issued by Braas Monier Building Group Holding Sarl and BMBG Bond Finance SCA, respectively, which are subsidiaries of Braas Monier Building Group.

The CreditWatch listing follows news that Standard Industries Inc. plans to acquire Braas Monier, S&P explained.

If Standard Industries completes the acquisition, the ratings on Braas Monier may be upgraded to the ratings level of Standard Industries, the agency said.

This depends on the level of integration of Braas Monier within Standard Industries group, whether Braas Monier's existing debt facilities are kept in place or repaid and the overall strategy that Standard Industries decides to follow with regard to Braas Monier's operations, balance sheet and cash flows, S&P said.

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