...+ On Nov. 13, 2018, Johnson Controls International PLC (JCI) said that it had agreed to divest its power solutions unit to Brookfield Business Partners LP and others. + Therefore, we are placing all of our ratings on JCI on CreditWatch with negative implications. + We will resolve the CreditWatch placement prior to the transaction's close and after we complete a comprehensive review of JCI's business, including its business position, capital structure, and financial policies NEW YORK (S&P Global Ratings) Nov. 14, 2018--S&P Global Ratings today placed all of its ratings on Cork, Ireland-based Johnson Controls International PLC on CreditWatch with negative implications. The CreditWatch negative placement follows JCI's announcement that it has reached a definitive agreement to sell its Power Solutions business to Brookfield Business Partners LP and institutional partners including Caisse de depot et placement du Quebec. The value of the transaction is $13.2 billion, or 7.9x the trailing twelve...
