S&P Withdraws Ratings on Pentair Ltd. (PNR); Assigns 'BBB/A-2' to Pentair plc

June 5, 2014 12:27 PM EDT Send to a Friend

Standard & Poor's Ratings Services said that it withdrew its 'BBB/A-2' corporate credit ratings on Switzerland-based Pentair Ltd. (NYSE: PNR). At the same time, we assigned our 'BBB/A-2' corporate credit ratings to the newly formed Ireland-based Pentair PLC. The outlook is stable.

"Pentair Ltd. was merged into Pentair PLC and then dissolved, effectively moving the company's domicile to Ireland from Switzerland," said Standard & Poor's credit analyst Sarah Wyeth.

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