Cott Corp. Put On Watch Negative, DS Services of America Inc.'s Secured Notes Put On Watch Positive On Potential Buyout

Tampa-based Cott Corp. announced that it has entered into a definitive merger agreement to acquire DSS Group Inc. (parent of DS Services of America Inc.) for about US$1.25 billion. Upon completion, the proposed acquisition will increase Cott's debt obligations, which would materially weaken the company's credit protection measures. As a result, we are placing our ratings on Cott, including our 'B+' long-term corporate credit rating, on CreditWatch with negative implications. At the same time, we are placing our 'B-' issue-level rating on DS Services of America's senior secured notes on CreditWatch with positive implications. NEW YORK (Standard&Poor's) Nov. 6, 2014--Standard&Poor's Ratings Services today said it placed its ratings, including its 'B+' long-term corporate credit rating, on

...+ Tampa-based Cott Corp. announced that it has entered into a definitive merger agreement to acquire DSS Group Inc. (parent of DS Services of America Inc.) for about US$1.25 billion. + Upon completion, the proposed acquisition will increase Cott's debt obligations, which would materially weaken the company's credit protection measures. + As a result, we are placing our ratings on Cott, including our 'B+' long-term corporate credit rating, on CreditWatch with negative implications. + At the same time, we are placing our 'B-' issue-level rating on DS Services of America's senior secured notes on CreditWatch with positive implications. NEW YORK (Standard & Poor's) Nov. 6, 2014--Standard & Poor's Ratings Services today said it placed its ratings, including its 'B+' long-term corporate credit rating, on Tampa-based Cott Corp. on CreditWatch with negative implications. At the same time, Standard & Poor's placed its 'B-' issue-level rating on Atlanta, Ga.-based DS Services of America Inc.'s (DS...

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