On Dec. 5, 2016, BC Partners, the owners of Keter Group B.V. (Keter), reached an agreement to acquire ABM Italia, a manufacturer and distributor of consumer resin products from Clessidra Capital Partners and other minority shareholders. The acquisition will be funded by a €300 million tap issuance on the existing first-lien term loan facility and the injection of equity instruments from the existing shareholders. We are affirming our long-term corporate credit rating on Keter at 'B' as we view the acquisition as complementary to the existing business and expect accretive earnings will be generated as a result. The stable outlook reflects our view that upon completion of the acquisition, the management team will successfully integrate the operations, realizing revenue and
