TORONTO (S&P Global Ratings) Nov. 13, 2024--S&P Global Ratings today said that its 'B+' issuer credit rating on Primo Water Corp. (B+/Watch Pos/--) remains on CreditWatch, where we placed it with positive implications on June 18, 2024. Our 'B+' issue-level rating on the company's senior unsecured debt also remains on CreditWatch, where we placed it with developing implications on June 18, 2024. The merger between Triton Water Holdings Inc. and Primo, which closed on Nov. 8, 2024, resulted in the formation of publicly traded parent company Primo Brands Corp. The transaction was structured to allow the group to keep both Primo's and Triton's term loans and bonds outstanding. We need additional details on the parent's plans around maintaining this structure,
