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Panva Gas Rated 'BB+'; Outlook Stable Apr 03
Standard & Poors, April 2003
HONG KONG (Standard & Poor's) April 10, 2003--Standard & Poor's Ratings Services said today that it had assigned its 'BB+' foreign currency corporate credit rating to Panva Gas Holdings Ltd. The outlook on the rating is stable. The rating reflects the company's leading position in the liquefied petroleum gas (LPG) and piped natural gas markets in mainland China and sound financial status. These strengths are offset by its aggressive expansion plans and potential risks associated with acquiring and integrating piped gas networks acquired from state-owned enterprises. Panva Gas is one of the leading suppliers of LPG in mainland China. Sinolink Worldwide Holdings Ltd., which owns about 71% of Panva Gas, has investments in property development and a power plant in...
Companies mentioned in this report are: Towngas China Co. Ltd.
Action: New Rating
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.