DBRS: SNC-Lavalin under developing review

DBRS said it placed the senior debentures rating of SNC-Lavalin Group Inc. at BBB (high) under review with developing implications.

The action follows the company's announcement that 2011 net profit would be C$80 million or 18% below previously issued guidance and that the company initiated an independent investigation of the facts and circumstances surrounding C$35 million of payments documented to construction projects to which they did not relate, according to DBRS.

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