S&P Global Ratings has placed an A long-term issue rating to CK Hutchison International (24) (II)'s proposed senior unsecured notes, which will be guaranteed by CK Hutchison Holdings (HKG:0001), according to a Monday release.
The rating is the same as CK Hutchison Holdings' issuer credit rating, S&P said, noting that the conglomerate's secured debt and its subsidiaries' unsecured debt accounted for 31.2% of total debt as of June 30, below the 75% notching-down threshold for a significantly diversified company.
The company will be able to retain its credit profile given its deleveraging, backed by resilient operations and business diversification, as well as prudent financial management, S&P said.
Price (HKD): $41.60, Change: $-0.40, Percent Change: -0.95%
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