Asciano a higher risk after Brookfield takeover

Moody’s has placed Asciano on negative credit watch following the agreement between the board of Asciano and its suitors, the Brookfield Consortium, in regards to Brookfield proposed takeover. The change in outlook relates to Moody’s concerns the new owners will apply a risker approach to balance sheet financing or the consortium looks to refinance the acquisition funding by raising debt at Asciano. Asciano currently has a Baa2 rating but the...

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