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Towngas China Co. Ltd. Remains On CreditWatch Positive Pending Certain Conditions For Parent Asset Injection Jun 10
Standard & Poors, June 2010
Shareholders have approved a proposed asset injection from TCCL's parent; certain conditions are pending. The proposed asset injection could have a positive impact on TCCL's standalone credit profile and increase the company's strategic importance to the wider Towngas group. The 'BBB-' corporate credit and issue ratings remain on CreditWatch with positive implications. HONG KONG (Standard & Poor's) June 21, 2010--Standard & Poor's Ratings Services said today that it had kept its 'BBB-' long-term foreign-currency corporate credit rating on Towngas China Co. Ltd. (TCCL) on CreditWatch with positive implications. At the same time, Standard & Poor's also kept its 'BBB-' issue rating on TCCL's US$200 million senior unsecured notes due 2011 on CreditWatch with positive implications. "We have kept the ratings...
Companies mentioned in this report are: Towngas China Co. Ltd.
Action: CreditWatch Update
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.
Research type: News
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Towngas China Co. Ltd.