Moody's might cut Elster

Moody's Investors Service said it placed Elster Group SE's Ba2 corporate family rating, Ba2 probability of default rating and the Ba2 senior unsecured notes rating of Elster's subsidiary, Elster Finance BV under review for possible downgrade.

Moody's said the action follows Elster's agreement to be acquired by Melrose PLC, a publicly-listed, UK-based investment firm, for about $2.3 billion on an enterprise value basis.

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