Helicopter deal sparks downgrade threat to GKN

Standard and Poor's, the international credit rating agency, has threatened to downgrade UK engineering group GKN if it goes ahead with the sale of AgustaWestland, a helicopter manufacturing unit that is one of its most profitable assets.

It said it would limit any potential downgrade to one notch, giving GKN a BBB- rating, one level above a junk bond rating.

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