S&P affirms Atrium European

Standard & Poor's said it affirmed its BB long-term and B short-term corporate credit ratings on Atrium European Real Estate Ltd.

At the same time, the agency said it removed the ratings from Creditwatch, where they had been placed with negative implications on Jan. 31.

The outlook is stable.

"The rating affirmation reflects its greater clarity on Atrium's strategy for dealing with its ongoing legal dispute with Meinl bank, as well as its view of the company's stable operating performance and adequate liquidity," said S&P credit analyst Amra Balic.

"It also reflects its consideration of the lack of information provided by Atrium on the nonpayment of interest on its 2008 bond issued to Meinl Bank in the broader context of the legal dispute with Meinl Bank."

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