S&P Global Ratings on Nov. 27 put Time Inc.'s B corporate credit rating on CreditWatch with positive implications after Meredith agreed to buy Time Inc. in an all-cash transaction valued at $2.8 billion.

The CreditWatch placement reflects the rating agency's expectation that it could raise its corporate credit rating on the company by one notch once the transaction closes.

The transaction is expected to close during the first quarter of 2018.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.