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Prospect News home > News index > List of issuers A > Headlines for American Greetings Corp. > News item |
S&P might lower American Greetings
S&P said it placed all the ratings, including the BB- corporate credit rating, on American Greetings Corp. on CreditWatch with negative implications.
American Greetings entered in an agreement under which Clayton, Dubilier & Rice (CD&R) will acquire a 60% ownership stake in the company.
Although CD&R has obtained committed financing for the transaction, specific terms, including the mix of debt and equity, have not been disclosed.
“We believe the acquisition, if executed, could weaken the company's credit metrics and cash flow generation,” the agency said in a news release.
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