S&P: No change to Shaw Group

Standard & Poor's said its ratings and outlook on Shaw Group Inc. are not affected by the company's announcement that it will sell substantially all of its energy and chemicals business to Technip for approximately $300 million.

According to S&P, Shaw has said it will retain its obligations under the engineering, procurement and construction contract associated with an ethylene plant in Asia that is now approximately 98% complete. Because it is almost complete, the agency said it does not think retaining this project will affect the rating on Shaw.

According to S&P, Shaw also indicated that it will retain energy and chemicals group personnel in its Baton Rouge office, as well as Shaw Consulting International Inc.

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