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S&P puts Roundy’s on positive watch
Standard & Poor’s said it placed the ratings on Roundy’s Supermarkets Inc. on CreditWatch with positive implications.
Parent company Roundy’s Inc. announced that it entered into a definitive agreement to be acquired by Kroger Co. for about $800 million.
As part of the acquisition, the agency said it expects Kroger will refinance Roundy’s existing debt. Roundy’s will become a subsidiary of Kroger following the close of the transaction, S&P said.
The acquisition will grow Kroger’s footprint into Wisconsin, where it currently lacks a presence, the agency said, and expand Kroger’s growth in the Chicago metropolitan area market where Roundy’s operates 34 stores under the Mariano’s banner.
S&P said it expects to resolve the CreditWatch placement on Roundy’s upon the acquisition close.
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