SINGAPORE (S&P Global Ratings) Dec. 6, 2016--S&P Global Ratings said today that its rating on China Hongqiao Group Ltd. (Hongqiao: BB-/Stable/--; cnBB+/--) is not immediately affected by the company's plan to further increase its stake in Loften Environmental Technology Co. Ltd. to 73.7% from the initially intended 28.1%. In addition, Loften will acquire 100% of Shandong Innovative Metal Technology Co. Ltd. (Innovative Metal). The rating is currently unaffected because the transactions are still pending shareholder and regulatory approval and are unlikely to be completed soon. Also, we currently have limited information on Innovative Metal, particularly the earnings, cash flow, and debt levels. If the transactions go through, we will reassess Hongqiao's financial position, business risk profile, financial policy, and future
