Boardriders Inc. 'CCC+' Rating Placed On CreditWatch Positive On Acquisition Of Billabong International Ltd.

California-based branded lifestyle apparel manufacturer Boardriders Inc. announced that it has signed a definitive agreement to acquire all of the shares of Billabong International Ltd. for about A$197.7 million ($155 million). As a result, we are placing all of our ratings on Boardriders, including our 'CCC+' corporate credit rating, on CreditWatch with positive implications. We expect resolve the CreditWatch when financing details are available and we assess the company's pro forma capital structure and credit measures. NEW YORK (S&P Global Ratings) Jan. 5, 2018--S&P Global Ratings today placed its ratings on California-based Boardriders Inc. including its 'CCC+' corporate credit rating, on CreditWatch with positive implications. The CreditWatch placement follows the announcement that Boardriders plans to acquire Billabong International Ltd. for

...+ California-based branded lifestyle apparel manufacturer Boardriders Inc. announced that it has signed a definitive agreement to acquire all of the shares of Billabong International Ltd. for about A$197.7 million ($155 million). + As a result, we are placing all of our ratings on Boardriders, including our '###+' corporate credit rating, on CreditWatch with positive implications. + We expect resolve the CreditWatch when financing details are available and we assess the company's pro forma capital structure and credit measures. NEW YORK (S&P Global Ratings) Jan. 5, 2018--S&P Global Ratings today placed its ratings on California-based Boardriders Inc. including its '###+' corporate credit rating, on CreditWatch with positive implications. The CreditWatch placement follows the announcement that Boardriders plans to acquire Billabong International Ltd. for about A$197.7 million ($155 million). We expect to resolve the CreditWatch when the company announces financing details for the transaction...

Ratings Action