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| Prospect News home > News index > List of issuers R > Headlines for Renewable Energy Group, Inc. > News item |
S&P puts Renewable Energy on positive watch
S&P said it placed Renewable Energy Group Inc.’s ratings, including its BB issue-level rating, on CreditWatch with positive implications.
The issuer agreed to be acquired by Chevron Corp., rated AA-, in an all-cash deal valued at $3.15 billion.
“The CreditWatch with positive implications reflects the likelihood that we could raise our ratings on REGI and its debt upon the close of the acquisition. We expect to resolve the CreditWatch at or near the close of the transaction, which we anticipate in the second half of 2022. We expect Chevron will fully integrate REGI into its business following the acquisition,” S&P said in a press release.
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