China Hongqiao Group Ltd.'s Proposed Senior Unsecured Notes Assigned 'BB' And 'cnBBB-' Ratings - S&P Global Ratings’ Credit Research

China Hongqiao Group Ltd.'s Proposed Senior Unsecured Notes Assigned 'BB' And 'cnBBB-' Ratings

China Hongqiao Group Ltd.'s Proposed Senior Unsecured Notes Assigned 'BB' And 'cnBBB-' Ratings - S&P Global Ratings’ Credit Research
China Hongqiao Group Ltd.'s Proposed Senior Unsecured Notes Assigned 'BB' And 'cnBBB-' Ratings
Published Jun 16, 2014
1062 words — Published Jun 16, 2014
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About This Report

  
Abstract:

HONG KONG (Standard&Poor's) June 16, 2014--Standard&Poor's Ratings Services today assigned its 'BB' long-term issue rating and 'cnBBB-' long-term Greater China regional scale rating to a proposed issue of U.S. dollar-denominated senior unsecured notes by China Hongqiao Group Ltd. (Hongqiao: BB/Stable/--; cnBBB-/--). The company intends to use the issuance proceeds to refinance its existing short-term debt maturing within one year. The rating on Hongqiao reflects the company's exposure to a highly cyclical and volatile aluminum market and its debt-funded expansion. Hongqiao's low production costs due to its self-owned captive power plants temper these weaknesses. We expect the company to slow down its debt-funded expansion plans in the next 12-24 months as most of its large projects have

  
Brief Excerpt:

RESEARCH China Hongqiao Group Ltd.'s Proposed Senior Unsecured Notes Assigned '##' And 'cnBBB-' Ratings Publication date: 16-Jun-2014 Primary Credit Analyst: Jian Cheng, CFA, Hong Kong (852) 2533-3576; jian.cheng@standardandpoors.com...

  
Report Type:

Ratings Action

Issuer
China Hongqiao Group Ltd.
GICS
Aluminum (15104010)
Sector
Global Issuers
Country
Cayman Islands
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "China Hongqiao Group Ltd.'s Proposed Senior Unsecured Notes Assigned 'BB' And 'cnBBB-' Ratings" Jun 16, 2014. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/China-Hongqiao-Group-Ltd-s-Proposed-Senior-Unsecured-Notes-Assigned-BB-And-cnBBB-Ratings-1332846>
  
APA:
S&P Global Ratings’ Credit Research. (). China Hongqiao Group Ltd.'s Proposed Senior Unsecured Notes Assigned 'BB' And 'cnBBB-' Ratings Jun 16, 2014. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/China-Hongqiao-Group-Ltd-s-Proposed-Senior-Unsecured-Notes-Assigned-BB-And-cnBBB-Ratings-1332846>
  
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