Sydney - Friday - August 22: (RWE Aust Business News) - Standard & Poor's has affirmed its BB-plus/B ratings on Babcock & Brown International, a subsidiary of Babcock & Brown Ltd (ASX:BNB). The rating outlook is stable. "We are not surprised that, in the current market environment, the group had had to make impairment charges against assets and investments, and the amount involved ($441 million) is not outside expectations," S&P creidt analyst Ian Greer said. The stable outlook on the rating is underpinned by S&P's expectations that B&B Ltd and B&B International would be able to keep its bankers, especially the main syndicate, on side through executing its stated strategy. The ratings may be lowered if asset sales, such as those for the European wind assets, do not proceed as expected, or exposure to Babcock & Brown Power (ASX:BBP) is not reduced as expected.
BNB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
