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S&P: David's Bridal on watch
Standard & Poor's said it placed its B corporate credit rating on David's Bridal Inc. on CreditWatch with negative implications.
"The CreditWatch placement follows the announcement that CD&R intends to acquire David's Bridal from current owners Leonard Green and TPG Capital for about $1.05 billion," said S&P credit analyst Brian Milligan in a news release.
The agency said the transaction could weaken David Bridal's financial ratios depending on the amount and the terms of the new debt in the capital structure following the transaction.
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