- Language: English
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- Published: October 2012
- Region: Global
SRE Group Ltd. Rating Lowered To 'B' On Increased Support For Financially Weak Associate; Outlook Negative Mar 09
- Published: March 2009
- Standard & Poors
HONG KONG (Standard & Poor's) March 10, 2009--Standard & Poor's Ratings Services said today that it had revised its long-term corporate credit rating on SRE Group Ltd. to 'B' from 'B+'. The outlook is negative. At the same time, Standard & Poor's lowered the issue rating on the company's US$200 million senior unsecured notes due 2013 to 'B-' from 'B'. "The rating revision reflects the likelihood that SRE will increase its financial support for its financially weak associate China New Town Development Co. Ltd. [CNTD; not rated]," said Standard & Poor's credit analyst Christopher Lee. This follows SRE's announcement on March 5, 2009, that it will subscribe to new shares issued by CNTD, which will effectively increase its stake to...
Companies mentioned in this report are: SRE Group Ltd.
Action: Outlook: Negative
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.
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SRE Group Ltd.