S&P affirms PSA, off watch

Standard & Poor's said it affirmed its corporate credit rating on PSA Corp. Ltd. at AAA and removed it from CreditWatch with negative implications.

The outlook is stable.

The agency said the rating affirmation follows PSA International Pte. Ltd. announcement that it has decided not to counterbid for the acquisition of deferred stock in Peninsular & Oriental Steam Navigation Co.

S&P added the rating on PSA is tied to the credit quality of the overall PSA group.

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