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S&P: Del unchanged
Standard & Poor's said its ratings on Del Laboratories Inc. (B-/stable) were not immediately impacted by the announcement that DLI Holding Corp., its parent company, has filed an S-1 statement with the SEC for an IPO of a maximum of $200 million in secondary common stock.
The agency said that the shares will be sold by Kelso & Co. LP, the company's financial sponsor.
Since Del Laboratories is not expected to receive proceeds from the stock sale, S&P said it does not expect the proposed transaction to have an impact on the company's credit measures.
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