Qube Holdings' (ASX:QUB) capital structure may change if Macquarie Asset Management's proposed acquisition of the former pushes through, Fitch Ratings said in a Tuesday release.

The capital structure shift would reflect alignment with Macquarie Asset Management's strategy, Fitch said.

The rating agency will continue to watch over developments regarding the deal, including the final capital structure and financial policies within Macquarie Asset Management's ownership.

Fitch said plans that could negatively impact Qube's credit profile could prompt a rating action, since the company's creditworthiness is anchored by low leverage.

Qube's rating reflects its controlled financial management, which comprises sustained measures for funding investments with a mix of debt and equity that retains gearing between 30% and 40%, Fitch said.