S&P puts Barminco on positive watch

S&P said it placed its B long-term issuer credit rating on Barminco Holdings Pty Ltd. on CreditWatch with positive implications.

At the same time, the agency placed the B rating on the company's senior secured debt on CreditWatch with positive implications.

“We placed the ratings on CreditWatch with positive implications because we expect Barminco to be a core subsidiary of Ausdrill group following completion of Ausdrill's takeover of Barminco,” S&P said in a news release.

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