Standard and Poor's
Ratings Services said it will maintain Marubeni Corporation on a negative
credit watch.
Marubeni is the parent company of Marubeni Caribbean Holdings which controls the Jamaica Public Service (JPS).
S&P on Monday said its triple "B" long-term corporate credit rating on Marubeni Corporation remains on CreditWatch with negative implications, where it was initially placed on April 25, 2008.
The CreditWatch placement, which was updated on August 7 and November 12, was based on the company's planned investment in two copper projects in the Republic of Chile worth approximately $200 billion.
S&P said this investment may result in an increase in Marubeni's overall risks to a level that is incompatible with the rating on the company.
Standard & Poor's said it will resolve the CreditWatch listing upon confirmation of the financing scheme for the investment.
Marubeni is the parent company of Marubeni Caribbean Holdings which controls the Jamaica Public Service (JPS).
S&P on Monday said its triple "B" long-term corporate credit rating on Marubeni Corporation remains on CreditWatch with negative implications, where it was initially placed on April 25, 2008.
The CreditWatch placement, which was updated on August 7 and November 12, was based on the company's planned investment in two copper projects in the Republic of Chile worth approximately $200 billion.
S&P said this investment may result in an increase in Marubeni's overall risks to a level that is incompatible with the rating on the company.
Standard & Poor's said it will resolve the CreditWatch listing upon confirmation of the financing scheme for the investment.
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