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Prospect News home > News index > List of issuers T > Headlines for Therma-Tru Corp. > News item
Published on 11/3/2003 in the Prospect News Bank Loan Daily.

S&P puts Therma-Tru on watch, positive

Standard & Poor's said it placed its BB- corporate credit and senior secured bank loan ratings for Therma-Tru Corp. on CreditWatch with positive implications after Fortune Brands Inc. agreed to acquire Therma-Tru for $925 million.

S&P said it affirmed its ratings of Fortune Brands. The outlook for the company is stable.

The proposed transaction will be initially funded by Fortune Brands through commercial paper borrowings. The ratings agency said the company has secured an additional $400 million in bank lines to support the increased borrowings under its commercial paper program.


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