S&P affirms China Hongqiao

S&P said it affirmed the B long-term corporate credit rating on China Hongqiao Group Ltd. and affirmed the B- long-term issue rating on the company's outstanding senior notes.

The agency removed all the ratings from CreditWatch, where they were placed with negative implications on March 24.

The outlook is stable.

S&P said it affirmed the ratings and removed them from CreditWatch after Hongqiao published its 2016 annual report and financial statements with an unqualified auditor's opinion.

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