On Sept. 29, 2015, French auto parts distributor Autodis Group SAS announced that its shareholders had started discussions on the sale of Autodis to Bain Capital. We think Autodis may incur additional debt to fund this transaction and that its leverage ratios may deteriorate below the range commensurate with the current aggressive financial risk profile. We are therefore placing our 'B+' rating on Autodis on CreditWatch with negative implications. We intend to resolve the CreditWatch once the company has started finalizing the sale, after reviewing the new capital structure and analyzing its impact on Autodis' financial risk profile. On Oct. 6, 2015, Standard&Poor's Ratings Services placed its 'B+' long-term corporate credit rating on French auto parts distributor Autodis
