TEXT-S&P lwrs Delance Ltd rating to 'CC', outlk neg


(The following statement was released by the rating agency) Sept 25 - Standard & Poor's Ratings Services said today it lowered its long-term corporate credit rating on Delance Ltd., the holding company of Russian car retailer Rolf Group (Rolf), to 'CC' from 'CCC+'. The outlook is negative. At the same time, the issue rating on the unsecured notes issued by the group's financing vehicle Colgrade Ltd. and guaranteed by Delance Ltd. and Rolf Group were lowered to 'C' from 'CCC'. The '5' ...

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