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Presale: China SCE Property Holdings Ltd. Jan 11 Product Image

Presale: China SCE Property Holdings Ltd. Jan 11

  • ID: 1858802
  • January 2011
  • Region: China
  • Standard & Poors

Abstract
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.

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: Full Analysis

- Yuzhou Properties Co. Ltd.
- China SCE Property Holdings Ltd.

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