S&P: Bright Food BBB-

Standard & Poor's said it assigned its BBB- long-term corporate credit rating to Bright Food (Group) Co., Ltd. The outlook is stable.

At the same time, the agency said it assigned its cnA- long-term Greater China regional scale rating to the company.

S&P said the rating on Bright Food reflects the company's stand-alone credit profile of bb+ and an expectation of a moderately high likelihood that Shanghai's municipal government will provide sufficient and timely extraordinary support to the company in the event of financial distress.

"BFG benefits from the diversification of its businesses and a higher exposure to the more stable and non-cyclical consumer staples segment," said S&P credit analyst Lillian Chiou in a news release.

"The company also has strong market positions in several business segments and numerous well-established food and food-related brands."

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