S&P affirms Hankyu Holdings

Standard & Poor's said it affirmed its BB long-term corporate credit and BB+ senior unsecured debt ratings on Hankyu Holdings Inc., following completion of the company's takeover bid for Hanshin Electric Railway Co. Ltd. and clarification of Hankyu's financial burden from the takeover.

At the same time, that agency said it removed the ratings from CreditWatch, where they were placed on May 1, following Hankyu's official announcement of merger discussions.

The outlook on the long-term credit rating is stable.

According to the agency, the debt burden related to the purchase will not impact Hankyu's financial profile as badly as had been feared in a worst-case scenario.

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