STOCKHOLM (Standard&Poor's) Sept. 30, 2004--Standard&Poor's Ratings Services said today that its ratings and outlook on Sweden-based security service company Securitas AB (BBB+/Stable/A-2) will not change following the announcement that the group is to acquire Valiance Cash Handling operations in France at a total cost of about Swedish krona (Skr) 720 million (€80 million). Although the acquisition is slightly negative from a credit perspective, Securitas' credit profile is expected to remain in line with the current ratings. The cash handling business involves more risks than Securitas' main security service businesses, and the acquisition highlights a more opportunistic growth strategy than Standard&Poor's has expected. The cash offer will initially increase net debt levels, but Securitas' financial
