S&P might lift HellermannTyton

Standard & Poor's said it placed its BB long-term corporate credit rating and all issue-level ratings on HellermannTyton Group plc on CreditWatch with positive implications.

The CreditWatch placement follows HellermannTyton's announcement that it received an all-cash offer from Michigan-based parts supplier Delphi Automotive plc for $1.85 billion, including the assumption of debt. Delphi plans to finance the transaction with debt and cash.

S&P expects that Delphi's debt-to-EBITDA metric will remain below 2 times after this transaction, which is in line with expectations for the current rating.

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