S&P might lower DeloPorts

S&P said it placed the BB- corporate credit rating on DeloPorts LLC on CreditWatch with negative implications.

The agency said the CreditWatch placement reflects the possibility that it could lower the rating on DeloPorts by one or more notches if the recently announced plan by DeloPorts' parent to acquire a 30.75% stake in Global Ports Investments plc involves a significant share of debt, leading to increased debt at the parent company or DeloPorts itself.

“We believe the transaction may increase the group's debt burden, although details of the transaction are not yet available to us,” S&P said in a news release.

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