S&P: Watts Water unaffected

Standard & Poor's said the rating and outlook on Watts Water Technologies Inc. (BBB-/stable) are not affected by the company's plans to acquire Blucher Metal A/S (unrated) for $183 million.

The acquisition broadens Watts' product line and supports its international diversification, the agency said.

Watts plans to fund the deal with cash and a drawing under its revolving credit facility. Over the business cycle, the issuer's total debt-to-EBITDA ratio is expected to be 2.5 times to 3 times.

© 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.