Bulletin: Westinghouse Air Brake Technologies Corp.'s Acquisition Of Inspection Technologies Will Modestly Increase Its Leverage

This report does not constitute a rating action. ENGLEWOOD (S&P Global Ratings) Jan. 14, 2025--S&P Global Ratings today said that Westinghouse Air Brake Technologies Corp.'s (WABTEC) acquisition of Inspection Technologies, a provider of monitoring and inspection equipment and technology, will modestly increase the company?s debt leverage. WABTEC will fund the $1.78 billion purchase price using cash from its balance sheet, a draw on its revolving credit facility, and the issuance of a term loan. We believe the acquisition will enhance WABTEC?s digital offering and further diversify its end-market exposure. In addition, we anticipate the transaction will bolster the company's offerings in its non-destructive testing and remote monitoring product categories while adding to its analytical instruments capabilities. Furthermore, the addition of

...January 14, 2025 This report does not constitute a rating action. ENGLEWOOD (S&P Global Ratings) Jan. 14, 2025--S&P Global Ratings today said that Westinghouse Air Brake Technologies Corp.'s (WABTEC) acquisition of Inspection Technologies, a provider of monitoring and inspection equipment and technology, will modestly increase the company's debt leverage. WABTEC will fund the $1.78 billion purchase price using cash from its balance sheet, a draw on its revolving credit facility, and the issuance of a term loan. We believe the acquisition will enhance WABTEC's digital offering and further diversify its end- market exposure. In addition, we anticipate the transaction will bolster the company's offerings in its non-destructive testing and remote monitoring product categories while adding to its analytical instruments capabilities. Furthermore, the addition of Inspection will increase the share of recurring revenue in WABTEC's digital intelligence business and modestly increase its end-market...

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