HONG KONG (Standard&Poor's) April 22, 2014--Standard&Poor's Ratings Services today assigned its 'A-' long-term issue rating and 'cnAA' long-term Greater China regional scale rating to the US$3 billion medium-term notes (MTN) program of Sinochem Hong Kong (Group) Co. Ltd. and the first senior unsecured notes issued under the program. Sinochem Offshore Capital Co. Ltd., a special purpose entity, will issue the notes. Sinochem Hong Kong will unconditionally and irrevocably guarantee the notes issued under the MTN program. We have equalized the ratings on Sinochem Hong Kong with the 'a-' group credit profile of the Sinochem group because we regard Sinochem Hong Kong as a core member of the group. The group credit profile reflects Sinochem group's 'bb+'
