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S&P puts Versatel on watch
Standard & Poor's said it placed a B+ long-term corporate credit rating on Versatel AG on CreditWatch with negative implications.
The CreditWatch placement reflects the risk that the potential acquisition of Versatel by the private equity company Kohlberg Kravis Roberts & Co. LP announced on May 19 could result in a higher leverage, more aggressive financial policy or weaker liquidity profile for Versatel, the agency said.
S&P said it expects to resolve the CreditWatch within the next three months, after reviewing the company's new capital structure, financial policy and liquidity profile pro forma the completion of the transaction.
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