S&P might lift Dresser-Rand

Standard & Poor's said it placed its BB corporate credit and B+ subordinated debt ratings on Dresser-Rand Group Inc. on CreditWatch with positive implications.

"The positive CreditWatch placement reflects the potential for an upgrade to A+," S&P credit analyst Susan Ding said in a news release. "Dresser-Rand Group has announced it has signed an agreement to be acquired by Siemens, which we rate A+."

Siemens AG has announced that it will likely assume Dresser-Rand's debt at the closing of the transaction, which the agency expects will likely occur in mid-2015 and is subject to Dresser-Rand's shareholder and regulatory approvals.

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