DP World Objects to S&P Rating
Rating agency Standard & Poors withdraws credit rating at DP World (DPWRF)'s request
Standard & Poor's has withdrawn its credit rating on DP World following objections by the ports operator to the way the agency assessed its financial health, Reuters has reported.
S&P said it pulled the ratings at DP World's request.
The world's third biggest ports operator was rated 'BB/B' with a stable outlook by S&P, revised down in February from positive. The agency said DP World's financial risk profile was "aggressive" and the company would generate negative free operating cash flow in 2012 and 2013.