TORONTO (Standard & Poor's) Oct. 21, 2005--Standard & Poor's Ratings Services today said it placed its 'BBB+' long-term corporate credit and senior unsecured debt ratings on Calgary, Alta.-based Talisman Energy Inc. on CreditWatch with negative implications following the company's announcement of its intention to acquire U.K.-based Paladin Resources PLC for C$2.521 billion in cash. The acquisition would also include the assumption of other liabilities, which raise the total transaction value to C$2.843 billion. More than three-quarters of Paladin's 46,000 barrels of oil equivalent of daily production are located in the North Sea, which currently accounts for about 32% of Talisman's total production. This acquisition will increase Talisman's North Sea production by about 25% and the company's total production by about
