China Merchants Holdings (International) Company Limited http://www.alacrastore.com/company-snapshot/China_Merchants_Holdings_International_Company_Limited-2015458 Sunday, September 07, 2008 2:09:01 PM 2015458 China Merchants Holdings (International) Company Limited en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/bir/467418bir/467418normChina Merchants Holdings Company Ltd.Hong KongManufacturing: Paint and glass products, shipping management, agency and chartering, operation of toll roads.285132314731671932551032721548851055111229GL7/16/2008 6:25:41 AM467418Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/spcred/653595spcred/653595normThe latest News from S&Pglobal6/12/2008 9:20:54 AM100News653595ChinaMarine Ports & ServicesAsiaEmerging MarketsGlobal IssuersCorporationsChemicalsNewsHONG KONG (Standard&Poor's) June 12, 2008--Standard&Poor's Ratings Services said today that it had assigned its 'BBB' issue rating to the issue of US$300 million in 5-year 6.125% senior unsecured notes and US$200 million 10-year 7.125% senior unsecured notes by CMHI Finance (BVI) Co. Ltd. Standard&Poor's has reviewed the final terms and conditions of the bonds, which are guaranteed by China Merchants Holdings (International) Co. Ltd. (BBB/Stable/--). Proceeds from the issue will be used for refinancing the group's existing borrowings and general corporate purposes. At the same time, Standard&Poor's withdrew the issue ratings on the proposed issue of U.S. dollar 5-year and 10-year dual tranche senior unsecured notes by CMHI Finance (Cayman) Inc.CHN20305030 203050 2030 20China Merchants Holdings (International) Co. Ltd.374454ASIAEMERGING144@HKNEWSHKGCMHI Finance (Cayman) Inc.CMHI Finance (BVI) Co. Ltd.386264449411ASIAEMERGINGCHINAMGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_156600_820977507moodys/PR_156600_820977507htmlGlobal Credit Research Rating Action # JUN #### Rating Action: CMHI Finance (BVI) Co., Ltd. Moody's assigns Baa# rating to China Merchants' USD notes Hong Kong, June ##, #### -- Moody's Investors Service has assigned a Baa# rating...6/5/2008 1:08:01 AMhtmlCMHI Finance (BVI) Co., Ltd.China Merchants Holdings International Co LtdChina Merchants Holdings International Co Ltd; CMHI Finance (BVI) Co., Ltd.820977507806943053150.0000NewsRating ActionPR_156600_820977507Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/652018spcred/652018normThe latest News from S&Pglobal6/4/2008 2:33:48 AM100News652018ChinaMarine Ports & ServicesAsiaEmerging MarketsGlobal IssuersCorporationsChemicalsNewsHONG KONG (Standard&Poor's) June 4, 2008--Standard&Poor's Ratings Services said today that it had assigned its 'BBB' issue rating to the proposed issue of U.S. dollar 5-year and 10-year dual tranche senior unsecured notes by CMHI Finance (Cayman) Inc. The proposed notes are guaranteed by China Merchants Holdings (International) Ltd. (BBB/Stable/--). Proceeds from the proposed issue will be used for refinancing the group's existing borrowings and general corporate purposes. The rating is subject to our review of the final terms and conditions of the proposed issue.CHN20305030 203050 2030 20China Merchants Holdings (International) Co. Ltd.374454ASIAEMERGING144@HKNEWSHKGCMHI Finance (Cayman) Inc.386264ASIAEMERGINGCHINAMGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/638463spcred/638463normThe latest News from S&P3/25/2008 4:29:44 AMNews100global638463ChinaMarine Ports & ServicesAsiaEmerging MarketsGlobal IssuersCorporationsChemicalsNewsHONG KONG (Standard&Poor's) March 25, 2008--Standard&Poor's Ratings Services said today that it had raised the issue rating on senior unsecured notes issued by CMHI Finance (Cayman) Inc. and guaranteed by China Merchants Holdings (International) Co. Ltd. to 'BBB' from 'BBB-'. At the same time, Standard&Poor's Ratings affirmed the 'BBB' corporate credit rating on China Merchants. The outlook is stable. "We've raised the issue rating to reflect improved credit protection, with priority debt likely to continue to decline in significance to less than 20% of total assets," said Standard&Poor's credit analyst Christopher Lee. "The rating affirmation reflects China Merchants' position as a leading port investor and operator in China, its good growth prospects,CHN20305030 203050 2030 20China Merchants Holdings (International) Co. Ltd.374454ASIAEMERGING144@HKNEWSHKGCMHI Finance (Cayman) Inc.386264ASIAEMERGINGCHINAMGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/638464spcred/638464normThe latest Research Update from S&P3/25/2008 4:29:44 AMResearch Update175global638464ChinaMarine Ports & ServicesAsiaEmerging MarketsGlobal IssuersCorporationsChemicalsResearch UpdateOn March 25, 2008, Standard&Poor's Ratings Services raised the issue rating on senior unsecured notes issued by CMHI Finance (Cayman) Inc. and guaranteed by China Merchants Holdings (International) Co. Ltd. to 'BBB' from 'BBB-'. At the same time, Standard&Poor's Ratings affirmed the 'BBB' corporate credit rating on China Merchants. The outlook is stable. The issue rating was raised to reflect improved credit protection, with priority debt likely to continue to decline in significance to less than 20% of total assets. The rating affirmation reflects China Merchants' position as a leading port investor and operator in China, its good growth prospects, and good track record in executing its strategy. These strengths are tempered by the company's lackCHN20305030 203050 2030 20China Merchants Holdings (International) Co. Ltd.374454ASIAEMERGING144@HKRESUPDHKGCMHI Finance (Cayman) Inc.386264ASIAEMERGINGCHINAMGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/635127spcred/635127normThe latest News from S&P3/12/2008 4:40:17 AMNews100global635127ChinaMarine Ports & ServicesAsiaEmerging MarketsGlobal IssuersCorporationsChemicalsNewsHONG KONG (Standard&Poor's) March 12, 2008--Standard&Poor's Ratings Services said today that its ratings on China Merchants Holdings (International) Co. Ltd. (BBB/Stable/--) are not affected by the company's decision to invest in Ningbo Port Co. Ltd. because the move is in line with China Merchants' strategy to strengthen and expand its port operations and investments in China, which has already been factored into the ratings. Ningbo Port will operate the fourth largest port in China after establishing itself as a joint-stock company and after the injection of port assets from the former Ningbo port authority. China Merchants will invest Chinese renminbi 847.3 million for a 5.4% stake in Ningbo Port using internal cash resources, which should beCHN20305030 203050 2030 20China Merchants Holdings (International) Co. Ltd.374454ASIAEMERGING144@HKNEWSGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/632019spcred/632019normThe latest News from S&P2/22/2008 4:47:50 AMNews100global632019ChinaMarine Ports & ServicesEmerging MarketsAsiaGlobal IssuersCorporationsChemicalsNewsHONG KONG (Standard&Poor's) Feb. 22, 2008--Standard&Poor's Ratings Services said today that its ratings on China Merchants Holdings (International) Co. Ltd. (BBB/Stable/--) are not affected by the company's recently announced decision to dispose of its stake in Hong Kong's Western Harbour Tunnel. That's because the move is in line with the company's strategy, which has already been factored into the ratings. China Merchants' strategy is to exit non-core businesses, such as the tunnel, and redeploy capital to expand its port operations and investments in China. The company says it will dispose of its stake in the tunnel for a total cash consideration of Hong Kong dollar 460 million (including the repayment of a shareholder's loan). The disposalCHN20305030 203050 2030 20China Merchants Holdings (International) Co. Ltd.374454EMERGINGASIA144@HKNEWSGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_806943053moodys/COP_806943053htmlGlobal Credit Research Credit Opinion ## APR #### Credit Opinion: China Merchants Holdings International Co Ltd China Merchants Holdings International Co Ltd Hong Kong Ratings Category Moody's Rating Outlook Stable Issuer Rating Baa#...1/3/2008 8:05:00 PMhtmlChina Merchants Holdings International Co LtdChina Merchants Holdings International Co Ltd806943053150.0000NewsCredit OpinionCOP_806943053Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/603227spcred/603227normThe latest News from S&P9/20/2007 4:32:00 AMNews100global603227ChinaMarine Ports & ServicesAsiaEmerging MarketsGlobal IssuersCorporationsChemicalsNewsHONG KONG (Standard&Poor's) Sept. 20, 2007--Standard&Poor's Ratings Services said today that a proposed acquisition by China Merchants Holdings (International) Co. Ltd. (CMHI; BBB/Stable/--) has had no immediate impact on the rating, particularly given the company's healthy operating results. CMHI proposes to acquire a 45% equity stake in Zhanjiang Port (Group) Co. Ltd. for Chinese renminbi 1.6 billion. This move is consistent with the company's strategy to expand into the bulk cargo area and continue to diversify cash flows. The company is unlikely to increase debt significantly to fund the acquisition, given its good cash flow and recent asset sales, including its toll road assets. CMHI's financial profile remains moderate, with an annualized ratio of debt toCHN20305030 203050 2030 20China Merchants Holdings (International) Co. Ltd.374454ASIAEMERGING144@HKNEWSGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Research