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BSH Bosch Und Siemens Hausgeraete Proposed Chinese Renminbi 2.0 Bil. Senior Unsecured Notes Assigned 'A/cnAA+' Ratings Sep 11
Standard & Poors, Sep 2011
Abstract
LONDON (Standard & Poor's) Sept. 21, 2011--Standard & Poor's Rating Services said today that it assigned its 'A' issue rating and 'cnAA+' Greater China credit scale rating to the proposed Chinese renminbi (RMB) 2.0 billion senior unsecured notes to be issued by Germany-based household appliance manufacturer BSH Bosch Und Siemens Hausgeraete GmbH (BSH). Based on the offering circular, the notes are senior unsecured and rank pari passu with all other BSH unsecured obligations. The issuer is the parent company BSH. We understand that the notes are to be issued in Hong Kong, China, with the proceeds destined to fund the BSH group's Chinese operations. The notes are split in three tranches: RMB850 million due in September 2014, RMB750 million due...
Companies mentioned in this report are: BSH Bosch und Siemens Hausgeraete GmbH
Action: New Rating
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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