Chicago-based replacement auto parts provider LKQ Corp. has announced that it plans to acquire an Italy-based automotive mechanical parts distributor for nearly $1.1 billion using a combination of cash on hand and borrowings from its existing credit facilities. Therefore, we are placing all of our ratings on LKQ Corp., including our 'BB+' corporate credit rating, on CreditWatch with negative implications to reflect our expectation that the company's leverage will increase pro forma for this transaction. We will resolve the CreditWatch placement, possibly within the next 90 days, when we complete our review of the acquisition's impact on LKQ's business and financial risk profiles, which will focus on the company's future capital structure and financial policy. On Dec. 22, 2015, Standard
