S&P puts Ei Group on CreditWatch negative

S&P said it put Ei Group plc on CreditWatch negative.

Ei’s board reached an agreement for the company to be acquired by Stonegate Pub Co. Ltd.

S&P sees the benefits to the deal possibly being offset by added debt and restructuring costs.

As a result, the group’s B rating was placed on CreditWatch as was BB- issue-level rating for Ei’s senior secured notes and the B rating on its notes due 2024.

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