S&P affirms Alliance One

Standard & Poor's said it affirmed the B+ corporate credit rating on Alliance One International Inc. and its wholly owned subsidiary Intabex Netherlands BV and removed ratings from CreditWatch with negative implications where they were placed on June 17, following the company's notification of late 10-K filing with the Securities and Exchange Commission.

The delay in the filing was due to the time required to finalize accounting related to reserves and financial statement presentation concerning farm rural credit accounting, according to the agency

The outlook is negative.

The affirmation reflects the agency's assessment that the reserves related to farm rural credit accounting did not materially affect credit protection measures, the agency said.

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