...+ Specialty pet retailer PetSmart Inc. announced that it has entered into a definitive agreement to acquire online pet retailer Chewy Inc. for around $3 billion, which we expect will be funded with proceeds from additional debt and equity contribution from its sponsor, BC Partners. + We are placing all of our ratings on PetSmart, including our 'B+' corporate credit rating and all issue-level ratings, on CreditWatch with negative implications. + We could lower the ratings after evaluating the business and financial impact of the transaction, the financing details, and management's financial policies. NEW YORK (S&P Global Ratings) April 19, 2017--S&P Global Ratings today placed its ratings on Phoenix, Ariz.-based PetSmart Inc., including its 'B+' corporate credit rating and issue-level ratings on the company's $4.3 billion secured term loan and $1.9 billion senior unsecured notes, on CreditWatch with negative implications. "The negative CreditWatch placement follows PetSmart's announcement...
