HONG KONG (Standard&Poor's) April 5, 2013--Standard&Poor's Ratings Services today assigned its 'BB-' long-term issue rating and its 'cnBB+' long-term Greater China regional scale rating to a proposed issue of U.S.-dollar-denominated senior unsecured notes by Texhong Textile Group Ltd. (BB-/Stable/--; cnBB+/--). The ratings are subject to our review of the final issuance documentation. Texhong intends to use the proceeds from the proposed notes to fund its capital expenditure and for general corporate purposes. We do not notch down the issue rating from the corporate credit rating on Texhong because we expect the company to maintain its ratio of priority debt to total assets at less than 15% over the next 12 months, which is the threshold for
