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15.12.2012 00:22:00
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PPG Industries, Inc. -- Moody's: PPG's ratings and outlook not affected by Akzo's Paints acquisition
New York, December 14, 2012 -- Moody's Investors Service stated that PPG Industries Inc.'s (PPG's) Baa1 ratings and stable outlook will not be negatively impacted by the acquisition of Akzo Noble N.V.'s North American decorative paints operations. The transaction, valued at $1.05 billion, will require a cash payment of $875 million and the assumption of the business' Canadian pension liabilities. PPG will utilize balance sheet cash to fund the transaction. For more information please see the Issuer Comment for PPG posted on www.moodys.com.
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