U.S.-based glass manufacturer Guardian Industries Corp. has disclosed that its shareholders have approved the sale of the remaining 56% of the company to KGIC LLC, a subsidiary of Koch Industries Inc. The deal is an all-cash transaction. Following the close of the transaction, Koch will have a 100% stake in Guardian. We are placing our ratings on Guardian Industries on CreditWatch with developing implications. We will resolve the CreditWatch listing after reviewing the impact of Koch's increased investment in Guardian and any change to Guardian's capital structure that may occur. On Nov. 22, 2016, S&P Global Ratings placed its ratings, including its 'A' corporate credit rating, on Auburn Hills, Mich.- based Guardian Industries Inc. on CreditWatch with developing implications. Guardian
