The Pantry, Inc. (PTRY) Place on CreditWatch Positive by S&P

Standard & Poor’s Ratings Services today placed its ratings on The Pantry Inc. (Nasdaq: PTRY) on CreditWatch with positive implications.

Quebec-based convenience store operator Alimentation Couche-Tard Inc. (BBB/Stable/--) and North Carolina-based convenience store operator The Pantry Inc. have entered into an agreement for Couche-Tard to acquire Pantry.

Upon availability of transaction details, we will review the ratings for upgrade potential. The magnitude of ratings uplift would depend on a number of items including whether the debt remains in place at Pantry and Couche-Tard provides any credit enhancement and our view of Pantry in the combined entity.

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