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S&P Credit Research1417 word report
published Nov 02, 2009
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S&P Credit Research
| Abstract: | We consider China Merchants Holdings (International) Ltd. as a government-related entity under our criteria and assess the likelihood of the People's Republic of China government providing extraordinary support to China Merchants, if needed, to be "low." We affirmed the 'BBB' corporate credit rating on China Merchants and the 'BBB' issue rating on all outstanding bonds. We assessed the stand-alone credit profile of China Merchants to be 'BBB'. The outlook is negative. On Nov. 2, 2009, Standard&Poor's Ratings Services affirmed its 'BBB' long-term corporate credit rating on China Merchants Holdings (International) Ltd. The outlook is negative. At the same time, Standard&Poor's affirmed its 'BBB' issue rating on the senior unsecured notes issued by CMHI Finance (Cayman) Inc.
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: '###' Rating On China Merchants Affirmed On Revised Rating Methodology For GREs; Outlook Is Negative Publication date: 02-Nov-2009 Primary Credit Analyst: Christopher Lee, Hong Kong (852)...
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| Report Type: | Research Update
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| Ticker: | 144@HK
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| Issuer: | China Merchants Holdings (International) Co. Ltd.
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| GICS: | Marine Ports & Services (20305030)
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| Sector: | Global Issuers
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| Country: | China
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| Region: | Emerging Markets
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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- Summary: China Merchants Holdings (International) Co. Ltd. $175.00
The rating on China Merchants Holdings (International) Co. Ltd. reflects the group's position as a leading operator/investor in China's port sector, its good track record in executing its strategy to expand its investments in ports and dispose ...
- China Merchants Holdings (International) Co. Ltd. $400.00
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- Bulletin: China Merchants Holdings (International) Co. Ltd. Ratings Not Affected By Qingdao Port Asset Restructuring $100.00
HONG KONG (Standard&Poor's) Dec. 18, 2009--Standard&Poor's Ratings Services said today that the ratings on China Merchants Holdings (International) Co. Ltd. (BBB/Negative/--) are not affected by the announcement of a restructuring of the group's ...
- Outlook On China Merchants Holdings (International) Co. Ltd. Revised To Negative; 'BBB' Ratings Affirmed $100.00
HONG KONG (Standard&Poor's) April 22, 2009--Standard&Poor's Ratings Services said today that it had revised the outlook on China Merchants Holdings (International) Co. Ltd. to negative from stable. At the same time, Standard&Poor's affirmed ...
- Research Update: Outlook On China Merchants Holdings (International) Co. Ltd. Revised To Negative; 'BBB' Ratings Affirmed $175.00
On April 22, 2009, Standard&Poor's Ratings Services revised the outlook on China Merchants Holdings (International) Co. Ltd. to negative from stable. At the same time, Standard&Poor's affirmed the 'BBB' long-term corporate credit rating on ...
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A leading operator/investor in China ports Good track record in strategy execution Improving cash generation A weakening trend for container throughput Lack of control over some affiliates Significant projected capital spending The rating on ...
- Summary: China Merchants Holdings (International) Co. Ltd. $175.00
The rating on China Merchants Holdings (International) Ltd. reflects the company's position as a leading operator/investor in the China port sector, its good track record in executing its strategy to expand its investments in ports and dispose ...
- China Merchants Holdings (International) Co. Ltd. Guaranteed Notes Rated 'BBB' $100.00
HONG 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 ...
