CITIC Resources Holdings Ltd. 'BB-' Rating Withdrawn At The Company's Request - S&P Global Ratings’ Credit Research

CITIC Resources Holdings Ltd. 'BB-' Rating Withdrawn At The Company's Request

CITIC Resources Holdings Ltd. 'BB-' Rating Withdrawn At The Company's Request - S&P Global Ratings’ Credit Research
CITIC Resources Holdings Ltd. 'BB-' Rating Withdrawn At The Company's Request
Published Jul 26, 2020
2 pages (1151 words) — Published Jul 26, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

HONG KONG (S&P Global Ratings) July 27, 2020--S&P Global Ratings today said that it has withdrawn its 'BB-' long-term issuer credit rating on CITIC Resources Holdings Ltd. (CITIC Resources) at the company's request. The stable outlook at the time of withdrawal reflects our view that CITIC Resources is a strategically important subsidiary of CITIC Group Corp. and will receive extraordinary group support when needed. CITIC Resources is primarily engaged in crude oil production, aluminum smelting, coal, and the import and export of commodities. The Hong Kong-based company is also engaged in manganese production, bauxite mining, and alumina refining through its associates CITIC Dameng Holdings Ltd. and Alumina Ltd. General Criteria: Group Rating Methodology, July 1, 2019 Criteria Corporates

  
Brief Excerpt:

...July 26, 2020 HONG KONG (S&P Global Ratings) July 27, 2020--S&P Global Ratings today said that it has withdrawn its '##-' long-term issuer credit rating on CITIC Resources Holdings Ltd. (CITIC Resources) at the company's request. The stable outlook at the time of withdrawal reflects our view that CITIC Resources is a strategically important subsidiary of CITIC Group Corp. and will receive extraordinary group support when needed. CITIC Resources is primarily engaged in crude oil production, aluminum smelting, coal, and the import and export of commodities. The Hong Kong-based company is also engaged in manganese production, bauxite mining, and alumina refining through its associates CITIC Dameng Holdings Ltd. and Alumina Ltd....

  
Report Type:

Ratings Action

Ticker
1205@HK
Issuer
CITIC Resources Holdings Ltd.
GICS
Trading Companies & Distributors (20107010)
Sector
Global Issuers
Country
Bermuda
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "CITIC Resources Holdings Ltd. 'BB-' Rating Withdrawn At The Company's Request" Jul 26, 2020. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/CITIC-Resources-Holdings-Ltd-BB-Rating-Withdrawn-At-The-Company-s-Request-2485240>
  
APA:
S&P Global Ratings’ Credit Research. (). CITIC Resources Holdings Ltd. 'BB-' Rating Withdrawn At The Company's Request Jul 26, 2020. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/CITIC-Resources-Holdings-Ltd-BB-Rating-Withdrawn-At-The-Company-s-Request-2485240>
  
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