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Towngas China Co. Ltd. Ratings Raised To 'BBB' On Completion Of Parent Asset Injection; Outlook Stable Jul 10
Standard & Poors, July 2010
TCCL is a step closer to further integrating into the wider Towngas group after its parent completed an asset injection. The injection has increased TCCL's strategic importance to the group and is marginally positive for the company's stand-alone credit profile. We raised the long-term foreign-currency corporate credit rating on TCCL and the issue rating on its senior unsecured notes to 'BBB' from 'BBB-'. We removed the ratings from CreditWatch with positive implications. The rating outlook on TCCL is stable. HONG KONG (Standard & Poor's) July 28, 2010--Standard & Poor's Ratings Services said today that it had raised its long-term foreign currency corporate credit rating on Towngas China Co. Ltd. (TCCL) to 'BBB' from 'BBB-'. The outlook on the rating is...
Companies mentioned in this report are: Towngas China Co. Ltd.
Action: Outlook: Stable
Action: Removed From CreditWatch
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.