CENTENNIAL (S&P Global Ratings) Dec. 13, 2019--EnPro Industries Inc. announced yesterday that it entered into a definitive agreement to sell its Fairbanks Morse engine business to Arcline Investment Management for $450 million in cash. We expect this transaction will reduce S&P Global Ratings-adjusted debt to EBITDA to the low-2x area in 2020, which includes the impact of forecasted acquisitions, compared with our previous expectation of 2x to 3x. We believe the company will use the expected $375 million of after-tax cash proceeds to fully repay its revolver balance and to pursue acquisitions. We also expect the company to use the $35 million of availability remaining under its $50 million share repurchase authorization. Our 'BB' rating and stable outlook on EnPro
