Moody's could cut United Parcel

Moody's Investors Service said it placed United Parcel Service, Inc.'s Aa3 senior unsecured rating under review for possible downgrade.

Moody's also affirmed the Prime-1 short-ratings assigned to UPS and UPS Global Treasury Plc.

The review comes after UPS' announcement that it reached an agreement to purchase all of the equity of TNT Express NV for €9.50 per share in an all cash transaction.

UPS expects the acquisition, which is subject to regulatory review and other closing conditions, to be consummated in the third quarter of 2012, according to the agency.

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