China-based textile producer Texhong has a fair business risk profile and significant financial risk profile. We assigned our 'BB' long-term corporate credit rating to Texhong and our 'BB' issue rating to its proposed senior unsecured notes. The stable outlook reflects the company's steady growth and good cash flows, and our expectation that it can smoothly execute expansion in Vietnam. On Jan. 4, 2011, Standard&Poor's Ratings Services assigned its 'BB' long-term corporate credit rating to China-based textile producer Texhong Textile Group Ltd. The outlook is stable. At the same time, Standard&Poor's assigned its 'BB' issue rating to the company's proposed senior unsecured notes. The rating on the notes is subject to Standard&Poor's review of the
