S&P downgrades Rolls-Royce credit rating after bribery settlement

Ratings agency S&P downgraded Rolls-Royce's long-term corporate credit rating on Tuesday, responding to news last week that the aero-engine maker would pay out 671 million pounds ($835 million) to settle a bribery investigation. S&P said it now rated Rolls-Royce 'BBB+', down from 'A-'. Shares in Rolls traded down 1.6 percent to 679.8 pence following the ratings cut, underperforming Britain's bluechip index which was up 0.2 percent and erasing gains made by the stock over the week since t