MELBOURNE (Standard&Poor's) June 7, 2013--Standard&Poor's Ratings Services affirmed its 'BBB-/A-3' ratings on Leighton Holdings Ltd. and removed them from CreditWatch with negative implications, where they were placed on March 22, 2013. The outlook is stable. The ratings affirmation reflects our assessment that: There has been no change in the underlying credit quality of Leighton or its parent's ultimate controlling shareholder, Spanish firm Actividades de Construccion y Servicios SA (Grupo ACS). Our credit estimate on Grupo ACS is supported by our view that the parent's "satisfactory" business risk profile is offset by a "significant" financial risk profile. We are satisfied that there is no deterioration in the governance arrangements between Leighton and its unrated German-based parent, Hochtief
