Standard Pacific Corp. -- Moody's says merger between Standard Pacific and Ryland is credit positive for both companies

New York, June 15, 2015 -- Moody's Investors Service said that on June 14, 2015Standard Pacific Corp. (B1/STA) and The Ryland Group, Inc. (Ba3/STA) jointly announced a definitive merger agreement pursuant to which Standard Pacific and Ryland will combine in a merger of equals to create a single company in a 100% stock merger. All the debt securities, with the exception of revolving credit facilities, in each of the companies will remain in place. The new entity will be the 4th largest builder in the U.S. based on pro forma revenues of $5.1 billion with a wider product mix and price point offering than the two stand-alone entities.

Vollständigen Artikel bei Moodys lesen