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Moody’s changes Aon outlook to negative
12 July 2010
Moody's has affirmed the Baa2 senior unsecured debt ratings of Aon Corporation and changed the rating outlook to negative from stable following the announcement that Aon plans to acquire the human resource consulting firm Hewitt Associates.
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Moody's has affirmed the Baa2 senior unsecured debt ratings of Aon Corporation and changed the rating outlook to negative from stable following the announcement that Aon plans to acquire the human resource consulting firm Hewitt Associates.
The purchase will cost approximately $4.9bn, consisting of 50% cash and 50% Aon common stock. The negative rating outlook reflects the large amount of debt in the funding structure and the execution risk in such a large transaction, given that the purchase price...
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