S&P: Refco unchanged

Standard & Poor's said Refco Group Ltd.'s (BB-/stable) planned acquisition of Cargill Investor Services will not affect the ratings on Refco.

Refco announced that it plans to acquire the global brokerage operations of Cargill Investor Services for $208 million in cash and future contingent cash payments of between $67 million and $192 million, based on performance of the acquired operations, the agency added.

The transaction is expected to close in one to two months, subject to contractual closing conditions and regulatory clearances, S&P said.

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