...January 23, 2020 MELBOURNE (S&P Global Ratings) Jan. 24, 2020--S&P Global Ratings today said that the ratings on CIMIC Group Ltd. (###/Stable/A-2) are unaffected by the company's decision to exit CIMIC's BIC Contracting (BICC) operations in the Middle East. In addition, the stand-alone credit profile on CIMIC and group credit support for CIMIC from its parent, Spanish construction group ACS, Actividades de Construccion y Servicios SA (ACS, ###/Stable/A-2), remain unchanged (see bulletin: "ACS' Expected Proceeds From Disposals Will Offset The Cash Outlay Related To CIMIC's Exit From The Middle East", published Jan. 23, 2020). Following an extensive strategic review of its non-controlling 45% interest in BICC, CIMIC Group initiated a process for its disposal or discontinuance. The company's exit from the region is due to what it considers to be an accelerated deterioration of local market conditions, and to focus on Australia, New Zealand, and Asia Pacific. CIMIC expects the decision to cost...