MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said its
ratings on Leucadia National Corp. will not be affected by the transaction
between Leucadia and Jefferies Group Inc.
S&P currently rates Leucadia's at 'BB+' with a stable outlook.
Leucadia National on Monday acquired 13.7 percent stake in Jefferies Group,
which in return agreed to purchase 10 million of Leucadia's shares. Also,
Leucadia receives $100 million cash, as a part of the deal.
Leucadia's stake acquisition in Jefferies is consistent with the types of
investments that Leucadia makes in its normal course of business, S&P noted.
Furthermore, the addition of $100 million in cash to Leucadia's balance
sheet will enhance the company's already-strong liquidity position, S&P said.
TFN.newsdesk@thomsonreuters.com
arc/ssa
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