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Policy Changes Underscore Need for Caution on Chinese Infrastructure Feb 99

  • ID: 2166511
  • February 1999
  • Region: China
  • Standard & Poors
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LONDON (Standard & Poor's CreditWire) Feb. 11, 1999--The need for caution and conservatism by foreign investors has been reinforced by recent changes in the policy environment in China. These changes have also highlighted uncertainty of the rules concerning foreign investment, and the often inconsistent administration of the framework governing foreign investment. As Standard & Poor's recently noted, the recent downgrade to single-'B' from double-'B'-minus of Cathay International, a company with a portfolio of infrastructure projects in China, was in part the result of prolonged holdups in the payment of dividends from its bridges and tunnels project in Guangzhou. While some infrastructure investors are receiving their payments promptly, others are experiencing delays. The payment holdup is occurring because of a delay...

Companies mentioned in this report are: China (People's Republic of ),Cathay International Water Ltd.
Action: S&P Event

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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China (People's Republic of ),Cathay International Water Ltd.

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