S&P lowers Stena

Standard & Poor's said it lowered its long-term corporate credit rating on Stena AB to BB from BB+. The outlook is stable.

At the same time, the agency said the issue rating on Stena's unsecured debt was lowered to BB. The recovery rating on this debt remains unchanged at 4.

S&P said the downgrade reflects continued weak credit ratings for Stena in 2011 and the first quarter of 2012. The agency said Stena's credit metrics are inconsistent with a BB+ long-term credit rating.

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