GF Financial Holdings BVI's proposed US dollar and yuan bonds received a BBB long-term issue rating from S&P Global Ratings, according to a Wednesday release.
China-based brokerage GF Securities (HKG:1776) will guarantee the senior unsecured bonds.
The bonds' rating is in line with the guarantor's long-term foreign and local currency issuer credit ratings since the guarantee is eligible for rating substitution treatment, S&P said.
Payment obligations for the guarantee will also rank equally with the guarantor's other obligations, the rating agency said.
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.