S&P puts inVentiv on positive watch

S&P said it placed the ratings on inVentiv Group Holdings Inc., including the B corporate credit rating, on CreditWatch with positive implications.

This follows INC Research Holdings Inc.'s plan to merge with inVentiv, which is valued at about $4.6 billion.

The positive watch reflects inVentiv's stronger competitive position and an expectation that the combined entity's adjusted debt leverage will be lower than that of inVentiv on a stand-alone basis as it will be owned by a private equity sponsor, S&P explained.

The agency said it will likely raise the corporate credit rating on inVentiv by multiple notches at the close of the transaction, which is likely in the second half of 2017.

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