S&P: Court ruling won't affect TFM rating

Ratings agency Standard & Poor's ( S&P) announced a March 19 ruling that upholds the acquisition agreement for Mexican rail concessionaire Grupo Transportacion Ferroviaria Mexicana (TFM) will not impact TFM's 'B' long-term corporate credit rating. "The ruling in favor of [Kansas City Southern] will not impact TFM's ratings because they [the ratings] already take the decision into consideration," the agency said. S&P announced earlier this month it had placed TMF's rating on CreditWatch with "negative implications." The upheld acquisition agreement would have TFM become part of a US-Mexican railroad group which would include TFM, Tex-Mex Railroad and US operations of transportation holding company Kansas City Southern (KCS). Shareholders with TFM parent company TMM oppose the agreement. For a full copy of the S&P report (in Spanish), paste the following link in your browser: http://www.bnamericas.com/rc_search_detail.xsql?id_documento=45753&Tx_idioma=E