Springs Industries Inc. -- Moody's says Springs Industries potential acquisition is credit positive, does not affect its B2 CFR or stable outlook

New York, January 29, 2015 -- Moody's Investors Service said Springs Industries Inc.'s (Springs) announcement yesterday that it had entered into a nonbinding letter of intent to acquire an unnamed company for $55 to $65 million is credit positive because it enhances the company's market position and growth potential in the commercial channel and because of Springs' good track record of integrating strategic acquisitions. Despite the operational benefits, the potential acquisition does not affect Springs' B2 Corporate Family Rating (CFR) or its stable outlook because leverage remains high and will temporarily increase because of the acquisition.

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