S&P removes Reebok from negative watch

Standard & Poor's said it affirmed its BBB corporate credit rating on Reebok International Ltd and the BBB rating on its $350 million senior unsecured convertibles due 2024.

The outlook is stable.

S&P said it removed the ratings from CreditWatch with negative implications, where they were placed on Aug. 3 following the announcement by adidas-Salomon AG that it will acquire Reebok for about $3.8 billion.

The affirmation reflects S&P's expectation that there will be no significant strategic changes in Reebok's business and financial policies if the transaction is not consummated.

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