S&P might cut American Residential

Standard & Poor's said it placed all of its ratings on American Residential Services LLC, including the B- corporate credit rating, on CreditWatch with positive implications.

The CreditWatch placement follows the company's recent announcement that it was acquired by financial sponsor firm Charlesbank Capital Partners.

"While terms of the transaction and plans for the company's capital structure under new ownership are not known, the company could benefit from the investment of new capital," S&P credit analyst Linda Phelps said in a news release.

"Management's ownership stake will continue to be meaningful and we do not anticipate immediate changes to the senior management team."

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