Global telecommunications infrastructure solutions provider CommScope Holding Co. Inc. announced that it will acquire networking solutions assets from TE Connectivity Ltd. for $3 billion. We are placing our ratings on CommScope, including the 'BB-' corporate credit rating, on CreditWatch with negative implications, reflecting the potential for the transaction to result in leverage sustained above the 5x area. On Jan. 28, 2015, Standard&Poor's Ratings Services placed its 'BB-' corporate credit ratings on Hickory, N.C.-based CommScope Inc. and CommScope Holding Co. Inc. (the holding company of CommScope Inc.) on CreditWatch with negative implications. We also placed our issue-level ratings on the company's senior secured term loans, unsecured notes, and unsecured paid-in-kind toggle notes on CreditWatch negative. The CreditWatch listing follows
