OREANDA-NEWS. S&P Global Ratings today withdrew its 'B' corporate credit rating on Providence, R. I.-based Nortek Inc., at the company's request.

We also withdrew the 'BB-' issue-level rating and '1' recovery rating on the company's senior secured term loan and 'B-' issue-level rating and '5' recovery rating on the company's senior unsecured notes.

The ratings withdrawal is at the company's request following the completion of Nortek's acquisition by Melrose Industries PLC (unrated) on Aug. 31, 2016. On Aug. 25, 2016, Nortek submitted prepayment and termination notices for its senior secured term loan and asset-based revolving credit agreement with its lenders. On Aug. 31, 2016, Nortek provided a notice of redemption to the holders of its 8.5% senior notes due 2021 of its plan to redeem all outstanding $735 million aggregate principal amount of the notes on Sept. 30, 2016.