Printer Friendly

Printed from

Summary: Towngas China Co. Ltd. Jun 11

The rating on Towngas China Co. Ltd. (TCCL) reflects the company's stand-alone credit profile of 'bb' and a three-notch uplift due to strong parental support from Hong Kong and China Gas Co. Ltd. (HKCG; A+/Stable/--; cnAAA). TCCL's stand-alone credit profile reflects our view of the strong demand and growth potential for piped gas in China, and the captive market for the company's secured city-gas projects. Regulatory risks in China, TCCL's high reliance on income from connection fees, and the company's significant financial risk profile partly offset the above strengths. TCCL benefits from the Chinese government's encouragement of the development and use of clean energy, the country's still low gas penetration rate, and the increasing demand for piped gas. Continued urbanization...

Companies mentioned in this report are: Towngas China Co. Ltd.
Action: Review

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Companies Mentioned
Towngas China Co. Ltd.
Order Online - visit

Order by Fax - using the order form below

Order By Post - print the order form below and send to

Research and Markets,
Guinness Centre,
Taylors Lane,
Dublin 8,

Page 1 of 2
Printed Nov 26, 2015
6:11:06 PM

Fax order form

To place a fax order simply print this form, fill in and fax the completed form to the number below. If you have any questions please email

Order information

Please verify that the product information is correct and select the format you require.

Product name

Summary: Towngas China Co. Ltd. Jun 11

Web Address

Office Code


Report Formats

Please enter the quantity of the report format you require.

Format Quantity Price
Electronic USD 175

Contact information

Please enter all the information below in block capitals.

Mr Mrs Dr Miss Ms Prof
First Name:
Last Name:
Job Title:
Post/Zip Code:

Please fax this form to:
(646) 607-1907 or (646) 964-6609 (from USA)
+353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Page 2 of 2
Printed Nov 26, 2015
6:11:06 PM

Payment information

Please indicate the payment method you would like to use by selecting the appropriate box.

Pay by Credit Card:

You will receive an email with a link to a secure page to enter your credit card details.

Pay by Check:

Please post the check, accompanied by this form, to:

Research and Markets,
Guinness Centre,
Taylors Lane,
Dublin 8,

Pay by Wire Transfer:

Please transfer funds to:

Account Number:
Sort Code:
Swift Code:
Bank Address:
Ulster Bank,
27-35 Main Street
Co. Dublin

If you have a Marketing Code please enter it below:

Marketing Code:

Please note that by ordering from Research and Markets you are agreeing to our Terms and Conditions at

Please fax this form to:
(646) 607-1907 or (646) 964-6609 (from USA)
+353-1-481-1716 or +353-1-653-1571 (from Rest of World)