S&P keeps Asciano on watch

Standard & Poor's said it maintained its BBB rating on Asciano Ltd. on CreditWatch with negative implications.

The agency initially placed the ratings on CreditWatch negative on Jan. 29, following the announcement of a proposed acquisition of Asciano Ltd. by a consortium of investors.

"The CreditWatch placement reflects our view that if the acquisition and divestment are successful, they will reduce the company's business diversification and thus weaken Asciano's overall business risk profile," S&P credit analyst James Hoskins said in a news release.

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