S&P Assigns AA+ Rating to Hong Kong MTR's Proposed Green Notes
S&P Global Ratings has placed an AA+ long-term issue rating to MTR's (HKG:0066) proposed senior unsecured green notes, according to a Monday release.
The notes' rating is equivalent to the metro operator's issuer credit rating, S&P said, noting that it has a manageable subordination risk with its priority debt ratio of less than 10%.
MTR's rating outlook is stable, which is similar to that of Hong Kong and considers an almost certain chance of government support for the metro operator.
The company will draw down the green notes from its $10 billion debt issuance program and use the proceeds to support eligible investments under its sustainable finance framework.
MTR shares fell more than 1% in recent trade.
Price (HKD): $26.45, Change: $-0.30, Percent Change: -1.12%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.