S&P puts Valley National Gases on developing watch

Standard & Poor's said it placed its ratings, including the B corporate credit rating, on Valley National Gases Inc. on CreditWatch with developing implications due to its pending acquisition by Matheson Tri-Gas Inc., a subsidiary of Taiyo Nippon Sanso Corp.

S&P said the ratings could be raised if it determines that the company's financial risk profile benefits from the support garnered from a stronger parent.

The agency could also affirm or lower the ratings if the transaction results in a highly leveraged financial risk profile.

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