HONG KONG (Standard & Poor's) Feb. 19, 2013--Standard & Poor's Ratings Services said today that it assigned its 'A-' long-term issue rating and 'cnAA' Greater China credit scale rating to the proposed issue of a senior unsecured bond by Azure Orbit International Finance Ltd. The Hong Kong branch of Bank of Communications Co. Ltd. (BoCom; A-/Stable/A-2; cnAA/cnA-1) will provide an unconditional and irrevocable guarantee for the proposed bond. The issue rating is subject to our review of the final issuance documentation. Azure Orbit is a special-purpose vehicle under JY Aviation Leasing Ireland Co. Ltd., which in turn is wholly owned by BoCom. We have equalized the rating on the proposed bond with that on BoCom because we believe that it...
Companies mentioned in this report are:
- Bank of Communications Co. Ltd.
- Azure Orbit International Finance Ltd.
Action: New Rating
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Research type: News
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