U.S.-based specialty chemical company Ecolab Inc. announced that it plans to repurchase about $1 billion of its equity shares after it completes its acquisition of water treatment company Nalco Holding Co. Our ratings on Ecolab Inc., including our 'A' corporate credit rating, remain on CreditWatch, where we placed them with negative implications on July 20, 2011. Our ratings on Nalco Co., including our 'BB-' corporate credit rating, remain on CreditWatch with positive implications. On Sept. 7, 2011, Standard&Poor's Ratings Services maintained the CreditWatch listing with negative implications of its 'A' corporate credit rating, 'A-1' short-term rating, and issue ratings on Ecolab Inc. The specialty chemical company announced yesterday that it plans to buy back $1 billion in shares
