S&P reviews Pactera

S&P said it had placed its B long-term corporate credit rating and cnBB- long-term Greater China regional scale rating on Pactera Technology International Ltd. on CreditWatch with developing implications.

At the same time, the agency placed its B long-term issue rating and cnBB- long-term Greater China regional scale rating on the $275 million senior unsecured notes due 2021 that the company guarantees on CreditWatch with developing implications.

HNA Ecotech Panorama Cayman Co. Ltd. (formerly BCP (Singapore) VI Cayman Financing Co. Ltd.) issued the notes.

"We placed the ratings on CreditWatch to reflect the uncertain impact of HNA Group's change of control offer on Pactera's leverage and liquidity," S&P credit analyst Leo Hu said in a news release.

Pactera announced on Feb. 2 that HNA EcoTech Group Co. Ltd., a subsidiary of HNA Group, completed the acquisition of all the outstanding shares of BCP (Singapore) VI Cayman Acquisition Co. Ltd., the parent of Pactera, from Blackstone Group LP and some other shareholders.

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