Towngas China Co. Ltd. Remains On CreditWatch Positive Pending Certain Conditions For Parent Asset Injection Jun 10

Standard & Poors, June 2010

Abstract
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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Towngas China Co. Ltd.

Customers who bought this item also bought

• eLEARNING - Global Strategic Business Report
• Aerospace and Defense Industry - Global Strategic Business Report
• Future of the Chinese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
• North America – Smart Weapons Markets and Technologies Outlook – 2013-2020
• Education Services - Global Strategic Business Report
• Charter Schools - Global Outlook
• The Chinese Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• Commercial And Military Flight Simulation - Global Strategic Business Report
• The Global UAV Payload Market 2012-2022
• International Military and Civilian Unmanned Aerial Vehicle Survey