S&P changes Ahold watch to positive

Standard & Poor's changed its CreditWatch negative on Ahold Koninklijke NV to positive from negative including its long-term corporate credit rating at BB-.

S&P said the action follows the group's announcement of its refinancing plan.

The CreditWatch revision reflects the potentially positive effect of the refinancing announced today, and in particular the group's €2.5 billion equity issue, S&P said.

This refinancing plan should alleviate all of Ahold's near-term liquidity concerns, while also significantly denting the group's significant debt burden.

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