SRE Group Ltd. Rating Lowered To 'B-' On Likely Continuation Of Weak Financial Performances; Outlook Stable Dec 10
- ID: 1857673
- December 2010
- Standard & Poors
SRE's financial performance is likely to remain weak in 2011. We lowered the long-term corporate credit rating on SRE to 'B-' from 'B'. At the same time, we lowered the issue rating to 'CCC+' from 'B-', to reflect the risks of structural subordination. The stable outlook on SRE reflects our estimation that the company has sufficient cash and onshore loan facilities. HONG KONG (Standard & Poor's) Dec. 6, 2010--Standard & Poor's Ratings Services said today that it had lowered its long-term corporate credit rating on SRE Group Ltd. to 'B-' from 'B'. The outlook is stable. At the same time, we lowered the rating on SRE's senior unsecured notes due April 2013 to 'CCC+' from 'B-'. "We downgraded SRE because...
Companies mentioned in this report are: SRE Group Ltd.
Action: Outlook: Stable
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Research type: News
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