S&P: Interpool remains on negative watch

Standard & Poor's said Tuesday its ratings on Interpool Inc. (BB/watch negative/--) remain on CreditWatch with negative implications.

The CreditWatch update followed Interpool's Jan. 9 filing of its 2002 10-K, including restated 2000 and 2001 financial statements, with the Securities and Exchange Commission. The initial delay of the filing of the financial statements occurred in March due to several restatements in the way the company accounted for finance lease transactions and, more recently, an insurance claim receivable.

S&P said it will continue to monitor Interpool's situation regarding its completed audited financial statements, the SEC investigation, the resumption of trading in its shares by the New York Stock Exchange, and continued lender support to resolve the CreditWatch.

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