Presale: China SCE Property Holdings Ltd. Jan 11
- ID: 1858802
- January 2011
- Region: China
- Standard & Poors
On Jan. 5, 2011, Standard & Poor's Ratings Services assigned its 'B+' long-term corporate credit rating to Fujian-based real estate developer China SCE Property Holdings Ltd. (CSCE). The outlook is stable. At the same time, Standard & Poor's assigned its 'B' issue rating to the company's proposed issue of senior unsecured notes. CSCE will use the proceeds to finance potential land acquisitions and for general corporate purposes. The rating on the notes is subject to our review of the final issuance documentation. The issue rating on CSCE's proposed notes is one notch lower than the corporate credit rating to reflect our opinion that offshore noteholders would be materially disadvantaged, compared with onshore creditors, in the event of default. In our...
Companies mentioned in this report are:
- Yuzhou Properties Co. Ltd.
- China SCE Property Holdings Ltd.
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Research Type: Full Analysis