HONG KONG (Standard&Poor's) Sept. 23, 2014--Standard&Poor's Ratings Services today assigned its 'BBB-' long-term issue rating and 'cnA-' long-term Greater China regional scale rating to a proposed issue of U.S.-dollar –denominated senior unsecured notes by Hero Asia Investment Ltd. (BBB/Stable/--; cnA/--). The ratings on the notes are subject to our review of the final issuance documentation. The issue rating is one notch lower than the long-term corporate credit rating on Hero Asia to reflect structural subordination risk associated with the debt at the holding company level. Nevertheless, we expect the risk to gradually decrease as project companies rely increasingly on funding from Hero Asia or its parent China Longyuan Power Group Corp. Ltd. (BBB+/Stable/--; cnA+/--). Hero Asia
