TOKYO (Standard&Poor's) Nov. 2, 2012--Standard&Poor's Ratings Services said on Nov. 1, 2012, that its ratings on Japan-based Aeon Co. Ltd. (A-/Negative/--) would not be immediately affected by the retail giant's announced acquisition of Carrefour S.A.'s (BBB/Stable/A-2) retail business in Malaysia. In our view, the ¥15.1 billion (€147 million) acquisition cost is manageable for Aeon. We assess Aeon's financial risk profile to be weak for the current ratings, reducing the room it has to absorb additional and material increases in debt for the ratings. Nevertheless, the acquisition, including postacquisition costs, will have only a small impact on Aeon's financial risk profile, in our view. We view the acquisition as positive for Aeon's business in countries of the
