Mohawk's S&P Rating Unchanged By Lees Deal

New York, NY, July 31--Standard & Poor's Ratings Services said today that its ratings and outlook on Mohawk Industries Inc. remained unchanged following the company's announcement that it had signed an agreement to purchase the Lees Carpet Division of Burlington Industries. The purchase price is approximately $352 million, subject to certain adjustments. Standard & Poor's expects that the addition of the Lees line of carpets and carpet tiles will broaden Mohawk's offerings to the commercial market. Standard & Poor's further anticipates that Mohawk will integrate the Lees acquisition into its manufacturing, information technology, and administrative infrastructure and maintain credit ratios appropriate for the current rating.