MELBOURNE (Standard&Poor's) July 21, 2011--Standard&Poor's Ratings Services today said that it has maintained its 'BBB' long-term and 'A-2' short-term corporate credit ratings on Leighton Holdings Ltd. (Leighton) on CreditWatch with negative implications, where they were placed on April 12, 2011. The rated debt issues of Leighton also remain on CreditWatch with negative implications. The CreditWatch placements followed Leighton's downgraded profit forecast for fiscal 2011 following writedowns at some of its projects. "Since our initial CreditWatch placements, Leighton has completed an A$757 million underwritten equity raising to cover an estimated A$779 million forecast cash outflow in fiscal 2012," Standard&Poor's credit analyst Craig Parker said. "Although this equity raising will bolster Leighton's capital structure, we expect
