DP World Objects to S&P Rating

Thursday, May 17, 2012

Rating agency Standard & Poors withdraws credit rating at DP World'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Standard & Poor's has withdrawn its credit rating on DP World following objections by the ports operator to the way the agency assessed its financial health, Reuters has reported.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.

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