S&P reviews Joy Global

S&P said it placed all of its ratings on Joy Global Inc., including the BB+ corporate credit rating, on CreditWatch with positive implications.

"The CreditWatch placement follows Joy Global Inc.'s announcement that it has signed a definitive agreement to be acquired by a subsidiary of Komatsu Ltd. in an all-cash transaction valued at $3.7 billion (including Joy's outstanding debt)," S&P credit analyst Svetlana Olsha said in a news release.

"The positive CreditWatch placement reflects that Joy is being acquired by an entity with a stronger credit profile."

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