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SRE Group Ltd. Rating Lowered To 'B-' On Likely Continuation Of Weak Financial Performances; Outlook Stable Dec 10 Product Image

SRE Group Ltd. Rating Lowered To 'B-' On Likely Continuation Of Weak Financial Performances; Outlook Stable Dec 10

  • ID: 1857673
  • December 2010
  • Standard & Poors

Abstract
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: Downgraded
Action: Outlook: Stable

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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