S&P: Roofing Supply on watch

Standard & Poor's said it placed its ratings on Roofing Supply Group LLC, including the B+ corporate credit rating, on CreditWatch with negative implications.

"The CreditWatch follows RSG's announcement that its current owner, the Sterling Group, had signed a definitive agreement to sell its ownership interest in RSG to private equity firm Clayton, Dubilier & Rice," said S&P credit analyst Thomas Nadramia in a news release.

The agency said it intends to monitor developments relating to this transaction and will resolve the CreditWatch listing following a review of the pro forma capital structure and financial risk profile of the company.

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