NEW YORK (S&P Global Ratings) Feb. 6, 2020--S&P Global Ratings said today that it has revised its assessment of the key terms of WESCO International Inc.'s proposed preferred stock issuance and now expects to assign intermediate equity credit (50% equity) to this instrument. Our revised assessment considers the instrument's permanence, subordination, and the deferability of its dividend payments to meet our criteria for intermediate equity credit. This is in line with preferred equity issuances of other rated issuers to which we assign intermediate equity credit. Specifically, given our now broader understanding of the reason for the provision, we no longer believe the provision (which would allow preferred shareholders to elect two directors to WESCO's board of directors if dividends are
