China Cinda's MTN Program With Onshore Guarantee Rated 'A-'; That With Offshore Guarantee, And Its Drawdown Rated 'BBB+' - S&P Global Ratings’ Credit Research

China Cinda's MTN Program With Onshore Guarantee Rated 'A-'; That With Offshore Guarantee, And Its Drawdown Rated 'BBB+'

China Cinda's MTN Program With Onshore Guarantee Rated 'A-'; That With Offshore Guarantee, And Its Drawdown Rated 'BBB+' - S&P Global Ratings’ Credit Research
China Cinda's MTN Program With Onshore Guarantee Rated 'A-'; That With Offshore Guarantee, And Its Drawdown Rated 'BBB+'
Published Apr 13, 2015
4 pages (1478 words) — Published Apr 13, 2015
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

HONG KONG (Standard&Poor's) April 14, 2015--Standard&Poor's Ratings Services today assigned its 'A-' long-term rating and 'cnAA' long-term Greater China regional scale rating to a medium-term notes (MTN) program by China Cinda Finance (2015) II Ltd. that China Cinda Asset Management Co. Ltd. (China Cinda: A-/Stable/A-2; cnAA/cnA-1) guarantees under an onshore guarantee structure. We also assigned our 'BBB+' long-term ratings and 'cnA+' long-term Greater China regional scale ratings to the MTN program by China Cinda Finance (2015) I Ltd. that China Cinda (HK) Holdings Co. Ltd. (Cinda HK: BBB+/Stable/A-2; cnA+/cnA-1) guarantees under an offshore guarantee structure, and the first drawdown of U.S.-dollar denominated benchmark size fixed-rate notes under this structure. The total MTN program size is US$3

  
Brief Excerpt:

...HONG KONG (Standard & Poor's) April 14, 2015--Standard & Poor's Ratings Services today assigned its 'A-' long-term rating and 'cnAA' long-term Greater China regional scale rating to a medium-term notes (MTN) program by China Cinda Finance (2015) II Ltd. that China Cinda Asset Management Co. Ltd. (China Cinda: A-/Stable/A-2; cnAA/cnA-1) guarantees under an onshore guarantee structure. We also assigned our '###+' long-term ratings and 'cnA+' long-term Greater China regional scale ratings to the MTN program by China Cinda Finance (2015) I Ltd. that China Cinda (HK) Holdings Co. Ltd. (Cinda HK: ###+/Stable/A-2; cnA+/cnA-1) guarantees under an offshore guarantee structure, and the first drawdown of U.S.-dollar denominated benchmark size fixed-rate notes under this structure. The total MTN program size is US$3 billion and is shared between the onshore and offshore guarantee structures. Both issuers are special purpose vehicles ultimately wholly owned by China Cinda. The ratings are subject to...

  
Report Type:

Ratings Action

Issuer
China Cinda Asset Management Co. Ltd.
GICS
Asset Management & Custody Banks (40203010)
Sector
Global Issuers
Country
China
Region
Emerging Markets
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "China Cinda's MTN Program With Onshore Guarantee Rated 'A-'; That With Offshore Guarantee, And Its Drawdown Rated 'BBB+'" Apr 13, 2015. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/China-Cinda-s-MTN-Program-With-Onshore-Guarantee-Rated-A-That-With-Offshore-Guarantee-And-Its-Drawdown-Rated-BBB-1393665>
  
APA:
S&P Global Ratings’ Credit Research. (). China Cinda's MTN Program With Onshore Guarantee Rated 'A-'; That With Offshore Guarantee, And Its Drawdown Rated 'BBB+' Apr 13, 2015. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/China-Cinda-s-MTN-Program-With-Onshore-Guarantee-Rated-A-That-With-Offshore-Guarantee-And-Its-Drawdown-Rated-BBB-1393665>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.