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S&P: CP Ships on watch
Standard & Poor's said it revised the implications of its CreditWatch placement on CP Ships Ltd. to negative from developing.
The agency noted the ratings were originally placed on CreditWatch with developing implications on Aug. 22, when its management board recommended it accept a takeover offer from TUI AG.
The revision comes after S&P assigned its BB+ corporate credit ratings to TUI, CP Ships' new majority owner.
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