S&P: Mattress Holding on watch

Standard & Poor's said it placed its ratings, including its B corporate credit rating, on Mattress Holding Corp. on CreditWatch with negative implications.

These actions followed the company's announcement that it has signed a letter of intent to acquire Mattress Discounters Corp. for an as yet undisclosed amount, the agency said.

The acquisition would add more than 150 stores to Mattress Holding's existing base of about 350 stores and expand its operations into the Northeastern United States, a market previously untapped by the company, the agency noted.

The CreditWatch listing will be resolved either upon closing of the acquisition or an announcement that the transaction will not be consummated, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.