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Bulletin: Swire Pacific Rating Not Affected By The Proposed Listing Of Swire Properties Ltd. Sep 11
Standard & Poors, Sep 2011
Abstract
HONG KONG (Standard & Poor's) Sept. 23, 2011--Standard & Poor's Ratings Services said today that the rating and outlook on Swire Pacific Ltd. (A-/Stable/--; cnAA) are not affected by the company's plan to list its wholly owned property subsidiary, Swire Properties Ltd., on the Hong Kong stock exchange by way of introduction. We understand the listing plan is in its preliminary stage. In addition, we do not expect the proposed listing to involve any cash proceeds based on the current plan. In our view, the proposed transaction is likely to have limited impact on Swire Pacific's credit profile. We believe the sizable cash proceeds from the sale of a regional shopping mall in July 2011 have eased the pressure on...
Companies mentioned in this report are: Swire Pacific Ltd.
Action: Bulletin
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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