MELBOURNE (S&P Global Ratings) Oct. 10, 2016--S&P Global Ratings today said that its ratings on CIMIC Group Ltd. (CIMIC; BBB-/Stable/A-3) are unaffected by the company's proposed all cash offer for a shareholding in UGL Ltd. (unrated). If CIMIC is successful in acquiring all of the UGL shares, the total outlay would be about A$525 million. We expect that CIMIC has ample available funds to acquire the UGL shares and incorporate UGLs existing debt in CIMIC's capital structure. Post the acquisition, we expect CIMIC's financial position would remain supportive of a modest financial risk profile. UGL is a provider of engineering, manufacturing, construction, asset management, and maintenance services with a diversified end market exposure across core sectors of rail, transport and
