Standard & Poor\'s Rating Service (S&P) said Tuesday it has placed the credit rating of POSCO Engineering & Construction Co., the construction unit of South Korean steel giant POSCO, on review for a possible downgrade, citing its acquisition of a development project. The move follows the company\'s announcement that it assumed and paid 364 billion won (US$336 million) in project finance debt that the property developer, Jungwoo Construction Co., owed and which had been secured by the residential property development project.