S&P puts Road Infrastructure on positive watch

S&P said it placed all its ratings for Road Infrastructure Investment Holdings Inc., including the CCC+ issuer rating, on CreditWatch with positive implications.

PPG Industries Inc. agreed to acquire the company for about $1.15 billion, including debt.

“We will likely raise the rating on Road Infrastructure to match the rating on PPG and then withdraw all ratings on Road Infrastructure, assuming its debt is fully repaid upon close,” S&P said in a press release.

The agency said it plans to resolve the CreditWatch after the transaction closes.

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