TEXT-S&P puts American Greetings rating on watch negative
Posted on September 27, 2012 at 15:21 PM EDT
Sept 27 - Overview -- U.S. greeting cards manufacturer and distributor American Greetings Corp. has received a "going private" offer from its CEO, and President and COO. -- We believe the company's credit profile could be weaker following the transaction because of a likely increase in leverage, although we don't know the financing details at this time. -- We are placing all of our ratings on American Greetings, including the 'BB+' corporate credit rating, on CreditWatch wit