S&P places TNS on watch

Standard & Poor's said it placed its BB- corporate credit rating on TNS Inc. on CreditWatch with negative implications.

The agency said this action follows TNS' announcement that it has agreed to be acquired by an investor group led by private equity firm Siris Capital Group for about $862 million, including the refinancing of TNS' senior secured debt.

"The CreditWatch listing reflects the prospective new private equity ownership and our expectation that leverage will increase to finance the buyout," said S&P credit analyst Michael Weinstein in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.