...+ Westinghouse Air Brake Technologies Corp. (Wabtec) expects that it will receive all necessary regulatory approvals for its pending merger with General Electric's Transportation division (GET), without meaningful deviations, and plans to raise approximately $2.5 billion in new debt to finance the transaction. + Despite the substantial increase in Wabtec's debt obligations, which will push its leverage over 3.5x, we think a stronger more diversified business tempers slightly weaker credit metrics. We also believe this level of leverage is temporary. + We are affirming all of our ratings on Wabtec, including our '###' issuer credit rating, and removing them from CreditWatch negative. We are also assigning '###' ratings to the company's proposed senior unsecured notes due 2021, 2024, and 2028. + The negative outlook reflects the temporary increase in the company's pro forma leverage, which is beyond our rating threshold. We could lower the ratings during the next 12 months if Wabtec fails...
