Moody's Places Pentair's (PNR) Ratings on Watch for Downgrade
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Cowen Maintains Market Perform on Pentair Ltd. (PNR) Following Announced ERICO Acquisition
August 17, 2015 1:55 PM EDTCowen reiterated a Market Perform rating and $65.00 price target on Pentair (NYSE: PNR) following announced $1.8 billion acquisition of ERICO. Analyst Joseph Giordano views this as a true bolt-on that will not likely require a disproportionate amount of mgmt bandwidth. ERICO will add a new... More
S&P Lowers Outlook on Pentair Ltd. (PNR) to Negative Following Planned ERICO Acquisition
August 17, 2015 10:44 AM EDTStandard & Poor's Ratings Services affirmed all of its ratings, including its 'BBB' long-term and 'A-2' short-term corporate credit ratings, on U.S.-based manufacturer of water treatment and storage products Pentair Ltd. (NYSE: PNR) and revised the rating outlook to negative from stable.
"The negative rating outlook revision reflects our view that the planned acquisition of ERICO will result in weaker credit measures than previously projected in light of weakness in key end markets such as infrastructure, industrial, and energy-related markets," said Standard & Poor's credit analyst Jaissy Lorenzo.
Pentair... More
