S&P: PSA Corp. unaffected

Standard & Poor's said that the recent acquisitions by PortCapital Ltd., an investment holding company backed by PSA International Pte. Ltd., would not by itself have a rating impact on Singapore's container port operator, PSA Corp. Ltd. (AAA/stable/--).

PortCapital recently acquired a 20% stake in Hongkong International Terminals Ltd (HIT) and a 10% stake in Cosco-Hit Terminals (Hong Kong) Ltd.

S&P said the acquisition would form part of PSA International's strategy to diversify globally, particularly in the growing North Asia region.

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