S&P: Atrium on CreditWatch

Standard & Poor's said it placed the BB long-term and B short-term corporate credit ratings on Atrium European Real Estate Ltd. on CreditWatch with negative implications.

The CreditWatch placement reflects concerns about the fact that Atrium did not provide material information in timely manner to the agency regarding an unpaid interest payment of €537,000 on an unrated bond in November 2010, S&P said.

The agency said it is concerned that the ongoing legal dispute between Atrium and Meinl Bank could have an adverse bearing on the company's credit quality.

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