Friday, May 4, 2012

TEXT-S&P keeps UPS ratings on watch negative

Overview
-- United Parcel Service (UPS) has announced its financing plan for its
proposed acquisition of TNT Express N.V. It also announced that it expects to
spend $1.5 billion on share repurchases in both 2012 and 2013.
-- We are keeping our ratings on UPS on CreditWatch with negative
implications, where we had placed them after UPS first announced the
acquisition plan.
-- We are also evaluating UPS' exposure to multiemployer pension plans
(MEPPs). This liability,

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