Moody's assigns A3 to Shandong Hi-speed's guaranteed bonds

Moody's Ratings affirms A3 issuer rating of Shandong Hi-speed; outlook stable - Rating Action – 2024/04/25 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Moody's Ratings affirms A3 issuer rating of Shandong Hi-speed; outlook stable (Chinese) - Rating Action – 2024/04/25 – US$ 180.00 – 6 "SPO"""SPO SPO "" "" "" SPO(1) (2) (3) "" ...

Shandong Hi-speed Group Co., Ltd: Update to credit analysis - Credit Opinion – 2024/01/29 – US$ 250.00 – ...Shandong Hi-speed Group Co., Ltd's (SDHG) A3 issuer rating incorporates its ba1 Baseline Credit Assessment (BCA), and our assessment of a high likelihood of support from and a high level of dependence on the Shandong provincial government and, ultimately, the Government of China (A1 negative) if necessary, which results in a four-notch uplift to its final rating. SDHG's ba1 BCA reflects the company's status as the transportation infrastructure platform of Shandong province and its proven track record of receiving financial support from the local government. These strengths are balanced against the increasingly commercial nature of the company's non-transportation businesses, which carry higher risks and have weaker credit profiles; the company's high leverage and sizable capital spending pipeline, based on the government's transportation investment plans; and the evolving regulatory regime for its core toll road business. The support assessment reflects SDHG's status as the Shandong provincial...

Moody's assigns A3 to Shandong Hi-speed's guaranteed bonds (Chinese) - Rating Action – 2023/05/16 – US$ 180.00 – FSA Commissioner (Ratings) 2 3 MJKK MSFJ () MJKK MSFJ () ( ) MJKK MSFJ () 100,000 550,000,000 MJKK MSFJ 7 ...

Shandong Hi-speed Group Co., Ltd: Update to credit analysis - Credit Opinion – 2023/01/26 – US$ 250.00 – ...Shandong Hi-speed Group Co., Ltd's (SDHG) A3 issuer rating incorporates its ba1 Baseline Credit Assessment (BCA), and our assessment of a high likelihood of support from and a high level of dependence on the Shandong provincial government and, ultimately, the Government of China (A1 stable) if necessary, which results in a four-notch uplift to its final rating. SDHG's ba1 BCA reflects the company's status as the transportation infrastructure platform of Shandong province and its proven track record of receiving financial support from the local government. These strengths are balanced against the increasingly commercial nature of the company's non-transportation businesses, which entail higher risks and have weaker credit profiles; its high leverage and sizable capital spending pipeline, based on the government's transportation investment plans; and the evolving regulatory regime for the company's core toll road business. The support assessment reflects SDHG's status as the Shandong provincial...

Shandong Hi-speed Group Co., Ltd: Update to credit analysis - Credit Opinion – 2022/01/14 – US$ 250.00 – ...Shandong Hi-speed Group Co., Ltd's (SDHG) A3 issuer rating incorporates its ba1 Baseline Credit Assessment (BCA), and our assessment of a high likelihood of support from and a high level of dependence on the Shandong provincial government and, ultimately, the Government of China (A1 stable) if necessary, which results in a four-notch uplift to its final rating. SDHG's ba1 BCA reflects the company's status as the transportation infrastructure platform of Shandong province and its proven track record of receiving financial support from the local government. These strengths are balanced against the increasingly commercial nature of the company's non-transportation businesses, which entail higher risks and have weaker credit profiles; its high leverage and sizable capital spending pipeline, based on the government's transportation investment plans; and the evolving regulatory regime for the company's core toll road business. The support assessment reflects SDHG's status as the Shandong provincial...

Shandong Hi-speed Group Co., Ltd: Delayed collection of $1.26bn dues from Shenzhen Talents Housing on Evergrande disposal has no immediate credit impact - Issuer Comment – 2021/12/09 – US$ 200.00 – ...On 7 December, Shangdong Hi-speed Group Co., Ltd (SDHG, A3 stable) announced delays in collection of RMB8 billion ($1.26 billion) proceeds from its disposal of shares in China Evergrande Group (Ca negative) from Shenzhen Talents Housing Group Co., Ltd. The delayed collection will have no immediate impact on SDHG's credit strength because financial metrics are still within its credit profile parameters. There will be no significant change to our projected cash flow and debt because we assume proceeds from the Evergrande's disposal will be reinvested in other financial assets. SDHG sold 4.7% of China Evergrande Group to Shenzhen Talents Housing Group Co., Ltd for RMB20 billion in December 2020 with the proceeds to be settled in three settlements within 12 months from December 2020. The overdue amount is equivalent to 35% of SDHG's projected funds from operations and 1% of its assets in 2021, excluding Weihai City Commercial Bank. However, there could be a negative impact on SDHG's profit,...

Shandong Hi-speed Group Co., Ltd: Update following deconsolidation of rail assets - Credit Opinion – 2021/01/14 – US$ 250.00 – ...Shandong Hi-speed Group Co., Ltd's (SDHG) A3 issuer rating incorporates its ba1 Baseline Credit Assessment (BCA), and our assessment of a high likelihood of support from and a high level of dependence on the Shandong provincial government and, ultimately, the Government of China (A1 stable) if necessary, which results in a four-notch uplift to its final rating. SDHG's ba1 BCA reflects the company's status as the transportation infrastructure platform of Shandong province and its proven track record of receiving financial support from the local government. These strengths are balanced against the increasingly commercial nature of the company's non-transportation businesses, which entail higher risks and have weaker credit profiles; its high financial leverage and sizable capital spending pipeline, based on the government's transportation investment plans; and the evolving regulatory regime for the company's core toll road business. The support assessment reflects SDHG's status as the Shandong...