S&P could cut Asciano

Standard & Poor's said it placed its BBB long-term corporate credit rating on Asciano Ltd., and the company's associated debt issues, on CreditWatch with negative implications.

"The CreditWatch placement reflects our view that if the Qube bid is successful, the bidding consortium's proposed divestment of Asciano's Ports business will reduce the company's business diversification and thus weaken Asciano's overall business risk profile," S&P credit analyst James Hoskins said in a news release.

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