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S&P revises Atlas Iron watch to positive
S&P said it revised the CreditWatch implications to positive from developing on the CCC issuer credit rating and issue ratings on Atlas Iron Ltd.
The ratings were initially placed on CreditWatch with developing implications on June 8.
“We placed the ratings on CreditWatch with positive implications because we consider the acquisition of Atlas Iron by Hancock Prospecting Pty Ltd. (not rated) is likely to be supportive of the subsidiary's business,” the agency said in a news release.
“In addition, we believe the parent entity's credit quality is potentially stronger than Atlas Iron's.”
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