LONDON (Standard&Poor's CreditWire) April 12, 1999--Standard&Poor's today affirmed its ratings on British American Tobacco PLC (BAT) and subsidiaries, and at the same time affirmed its ratings on Rothmans International BV (Rothmans) and its subsidiaries (see list below for all rating actions). The ratings remain on CreditWatch with positive implications, where they were placed on Jan. 21, 1999. Standard&Poor's also announced that, subject to financial closure of BAT's merger with Rothmans, it will raise its ratings on the enlarged BAT Group by one notch. BAT will assume Rothmans' debt, the ratings on which will also be raised by one notch. Although Rothmans' debt will be structurally subordinated for a period of time, Standard&Poor's
