S&P: Westinghouse Air Brake unaffected

Standard & Poor's said its ratings and outlook on Westinghouse Air Brake Technologies Co. (BB/stable/--) are not immediately affected by the company's announcement that it completed an acquisition of assets of Rutgers Rail SpA, Italy for $36 million in cash.

S&P said the ratings on Westinghouse Air Brake incorporate the company's strategy of debt-financed-acquisitions. The company has more than adequate liquidity for this acquisition.

The acquisition is expected to be accretive to earnings in the first year and offers the company an opportunity to increase geographic diversity of its end markets, according to S&P.

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