STOCKHOLM (Standard&Poor's) Feb. 2, 2007--Standard&Poor's Ratings Services said today that it had placed its 'A+' long-term corporate credit rating on Sweden-based tool and mining equipment manufacturer Sandvik AB (Sandvik) on CreditWatch with negative implications to reflect a more aggressive financial policy and a revised gearing target. At the same time, the 'A-1' short-term corporate credit rating on Sandvik and the 'K-1' Nordic national scale rating on the Sandvik Treasury AB Swedish Commercial Paper Program were affirmed. The CreditWatch placementfollows Sandvik's announcement of a Swedish krona (SEK) 7.5 billion dividend and a more aggressive financial policy, including a revised gearing target (net interest bearing liabilities to equity) to 0.7%-1.0% from below 0.7%, as well as plans for
