S&P Global Ratings has published a BBB+ long-term foreign currency issue rating for China Securities (International) Finance Holdings' keepwell notes, according to a Wednesday release.
CSCIF Hong Kong will issue the instruments under its $4 billion medium-term note program.
The notes' rating is similar to the that of guarantor China Securities (International) Finance Holdings, since S&P views the guarantee as irrevocable, unconditional, and timely.
The notes' guarantee ranks equally as the guarantor's other obligations, S&P said.
Proceeds from the issuance will be channeled for CSC Financial's (HKG:6066) debt refinancing or for working capital and general corporate purposes.
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.