Standard&Poor's Ratings Services published its revised corporate ratings criteria on Nov. 19, 2013. We assess China-based Sinochem Hong Kong to be a core member of Sinochem Group and believe that extraordinary government support to the parent is likely to flow to Sinochem Hong Kong in case the company comes under financial distress. We are raising our long-term corporate credit rating on Sinochem Hong Kong and long-term issue rating on the company's senior unsecured notes to 'BBB+' from 'BBB'. We are also raising our long-term Greater China regional scale rating on the company and the notes to 'cnA+' from 'cnA'. We are removing all the ratings from CreditWatch, where they were placed with positive implications on Nov. 26, 2013.
