S&P: Overseas Shipholding unaffected

Standard & Poor's said that Overseas Shipholding Group Inc.'s (BB/stable) reported a fourth-quarter 2007 net profit well below that of the similar period last year but that the company's ratings, which were lowered to current levels on Jan. 17, are not affected.

The agency noted that carriers of crude oil and refined petroleum products are susceptible to significant supply and demand fluctuations.

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