Vertiv Group Corp. has announced its intention to be acquired by GS Acquisition Holdings Corp. (GSAH), a special purpose acquisition company, in a cash- and equity-funded transaction. We are placing our ratings, including our 'B' long-term issuer credit rating, on Vertiv on CreditWatch with positive implications. The CreditWatch placement reflects our view that Vertiv's credit profile may improve with the anticipated debt reduction associated with the transaction. We expect to resolve the CreditWatch after the transaction closes, which we believe will be February 2020. We could raise the issuer credit rating by one notch to 'B+' upon completion of the transaction and a partial debt repayment and assuming that financial policies support the rating. The CreditWatch placement reflects S&P Global
