MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said its
'BB-' ratings and stable outlook on Coleman Cable Inc remains unaffected by
Coleman's announced acquisition of Katy Industries Inc's electrical products
business for 45 mln usd.
Coleman -- which makes electrical and electronic wire and cable for
security, telecommunications and automotive sectors -- will use its revolving
credit facility to fund the purchase, S&P added.
Following this transaction, the ratings agency added there will be limited
cushion for increased leverage in the event of volatility related to copper
pricing or slower-than-anticipated integration synergies.
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