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CONSUMER CYCLICALS

*EP CORP AGREES TO BUY IDS FOR 370P/SHARE


Targeting IG ratings looks like, 26s should sell-off on this; {ZR886835 Corp}

"The financing of the Acquisition is structured so that the investment grade credit rating of IDS is expected to be maintained. Following completion of the Acquisition, IDS is expected to be considered a highly strategic subsidiary of EP by the relevant ratings agencies. It is EP's intention to elevate IDS to a core subsidiary of EP, meaning that the rating of IDS would not be lower than the rating of EP, allowing IDS to benefit from being part of a group with an extensive portfolio of significant industrial assets with a long-term investment grade rating profile. EP takes a conservative approach to its capital structure and intends to continue operating EP on the basis that its current investment grade rating profile is maintained."

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