Following Leda Property Group's mid-week announcement that it would miss the February 22 scheduled maturity of its A$300 million CMBS issue, Standard & Poor's placed the ratings assigned to the issue on CreditWatch with negative implications. S&P said the CreditWatch on the securities reflects the uncertain timing and heightened execution risk associated with any repayment. The CreditWatch also reflects the uncertainty in relation to a strategy for a sale of assets if refinance or repayment is not achieved.S&P said "The CreditWatch is likely to be resolved either: (a) by a rating affirmation and withdrawal if a repayment of the securities is completed, or (b) at any time, by lowering the ratings on the securities if we believe there is an increasing prospect that repayment or refinance will not be achieved prior to the final maturity date of the notes."Leda announced on Friday that it reached a deal with a bank that will allow the CMBS to be paid out.