HONG KONG (Standard&Poor's) May 7, 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 proposed issue of Chinese renminbi (RMB)-denominated notes under the US$3 billion medium-term notes (MTN) program of Sinochem Offshore Capital Co. Ltd. Sinochem Hong Kong (Group) Co. Ltd. (A-/Stable/--, cnAA/--) will unconditionally and irrevocably guarantee the notes. The notes ratings are same as the ratings on the MTN program. In our view, the renminbi notes offering further broadens Sinochem Hong Kong's funding channels and increases its financial flexibility. The issuance proceeds will be used for general corporate purpose. RELATED CRITERIA AND RESEARCH Related Criteria 2008 Corporate Criteria: Rating Each Issue, April 15,
