S&P: Affiliated Computer on watch

Standard & Poor's said it placed its BB corporate credit and senior secured ratings on Affiliated Computer Services Inc. on CreditWatch with negative implications.

The CreditWatch placement follows the announcement that an investment group led by ACS' founder has offered to buy the company for about $8.2 billion, including the assumption of debt, the agency said.

If the LBO is successful, operating lease-adjusted leverage likely will increase from the 5x threshold incorporated into the current rating, S&P noted, adding that it will monitor any negotiations and respond to any change in the company's business or financial profile.

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