- Language: English
- 108 Pages
- Published: January 2012
- Region: China
Research Update: Towngas China Co. Ltd. Ratings Raised To 'BBB' On Completion Of Parent Asset Injection; Outlook Stable Jul 10
- Published: July 2010
- Region: China
- Standard & Poors
TCCL is a step closer to further integrating into the wider Towngas group after its parent completed an asset injection. The injection has increased TCCL's strategic importance to the group and is marginally positive for the company's stand-alone credit profile. We raised the long-term foreign-currency corporate credit rating on TCCL and the issue rating on its senior unsecured notes to 'BBB' from 'BBB-'. We removed the ratings from CreditWatch with positive implications. The rating outlook on TCCL is stable. On July 28, 2010, Standard & Poor's Ratings Services raised its long-term foreign currency corporate credit rating on Towngas China Co. Ltd. (TCCL) to 'BBB' from 'BBB-'. The outlook on the rating is stable. At the same time, we also raised...
Companies mentioned in this report are: Towngas China Co. Ltd.,The Hong Kong and China Gas Co. Ltd.,HKCG (Finance) Ltd.
Action: Outlook: Stable
Action: Removed From CreditWatch
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SHOW LESS READ MORE >
Towngas China Co. Ltd.,The Hong Kong and China Gas Co. Ltd.,HKCG (Finance) Ltd.