LONDON (Standard&Poor's) July 29, 2009--Standard&Poor's Ratings Services said today that there is no immediate effect on the ratings and outlook of Spanish and Latin American gaming group Codere S.A. (B/Negative/--) following the announcement yesterday by its principal shareholders (members of the Martinez Sampedro family) that they have settled a long-running dispute with the former principal shareholders (Jesús and Joaquin Franco). Under the agreement, some 3.6% of the Martinez Sampedro's shares in Codere will be transferred to the Francos in final settlement of all obligations outstanding under a 2006 sale and purchase agreement between the two parties, and the sale process of Codere initiated on Nov. 13, 2008, will be terminated. The announcement removes the threat that
