S&P: Knight unchanged

Standard & Poor's said its rating on Knight Inc. (BB/stable) is unaffected by the company's $4 billion non-cash goodwill impairment charge reported in the second quarter of 2008.

The goodwill impairment relates to certain reporting units that are part of its investment in Kinder Morgan Energy Partners LP acquired in 2007, the agency noted.

Importantly, S&P said that there is no material change in cash flow expectations at the Kinder Morgan reporting units versus at the time of the management buyout in 2007 that brought Knight private.

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