Valvoline Inc. (NYSE:VVV) has been selected as one of the S&P Dow Jones indices that will be affected by the recent changes. Valvoline is expected to join the S&P MidCap 400 category.

Valvoline expected to take the place of Noble Corp. plc (NYSE:NE) in the S&P MidCap 400 while Noble will be moved into the S&P SmallCap 600 where it will replace Celadon Group, Inc. (NYSE:CGI). The changes are expected to have taken place by 16. Ashland Global Holdings Inc. (NYSE:ASH) which is an S&P MidCap 400 index is expected to dispose of its remaining stake in Valvoline by May 15 once the final conditions are met.

How the changes will affect the indices

Ashland will remain in the S&P MidCap 400 after the changes. Noble will no longer be in the mid-cap market and instead will be categorized at the bottom of the S&P MidCap 400. Celadon will take its new position at the bottom of the S&P SmallCap 600 and will no longer be categorized in the small-cap market.

Exar Corp. (NYSE:EXAR) will be pushed out of the S&P SmallCap 600 category by MaxLinear Inc. (NYSE:MXL) before the markets open on May 15. Maxlinear struck a deal to acquire Exar and the transaction should be completed by Monday next week. Tidewater Inc. (NYSE:TDW) will be replaced from the smallCap 600 category by Lantheus Holdings Inc. (NASD:LNTH). Tidewater will henceforth be categorized at the bottom of the S&P SmallCap 600.

The new shakeup will affect quite a number of firms though the changes are expected to foster better performance in the future. Each of the firms will continue with their day to day operations despite the index changes in the S&P categories.

Valvoline deals with the manufacturing of industrial and automotive lubricants. It also markets its products and the firm’s headquarters are in Lexington, KY and it will be categorized in the S&P MidCap 400 GICS. The latter is the Commodity Chemicals Sub-Industry index and it is part of the Global Industry Classification Standard.

Valvoline stock closed the latest trading session on Monday at $23.24.