S&P: Realogy notes on watch

Standard & Poor's said it placed its BBB rating on Realogy Corp.'s senior unsecured notes on CreditWatch with negative implications.

The company's BB+ corporate credit rating remains on CreditWatch with negative implications where it was placed on Dec. 18, the agency added.

Also, the BBB rating on the company's senior unsecured credit facility was affirmed, given the expectation that this facility will be refinanced in conjunction with the company's proposed LBO, the agency said.

According to S&P, the placement on CreditWatch negative of the company's senior unsecured notes reflects our increased level of uncertainty surrounding their refinancing in conjunction with the pending LBO.

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