...SYDNEY (Standard & Poor's) Jan. 29, 2016--Standard & Poor's Ratings Services said today that it had placed its '###' long-term corporate credit rating on Australian rail-transport and port stevedoring company Asciano Ltd., and the company's associated debt issues, on CreditWatch with negative implications. "The CreditWatch placement reflects our view that if the Qube bid is successful, the bidding consortium's proposed divestment of Asciano's Ports business will reduce the company's business diversification and thus weaken Asciano's overall business risk profile," said Standard & Poor's credit analyst James Hoskins. Asciano currently benefits from the company's strong position in both the rail and ports markets in Australia. Qube Holdings Ltd., Global Infrastructure Partners, Canada Pension Plan Investment Board, and CIC Capital Corp. (Qube Consortium) have submitted a binding proposal to acquire all of the issued share capital of Asciano Ltd. If successful, the consortium will sell Asciano's...
