S&P: Fenwal unchanged

Standard & Poor's said the rating on Fenwal Inc. is unchanged by the announcement that it will be acquired by Fresenius Kabi, a wholly owned subsidiary of Fresenius SE & Co. KGaA.

The agency said it expects Fenwal's credit facility to be repaid at the close of the acquisition, by year-end 2012.

In addition to the B+ corporate credit rating, S&P said it rates Fenwal's $400 million first-lien secured debt B+. The $75 million second-lien term loan is rated B.

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