S&P rates YETDZ Development BB+

S&P said it assigned its BB+ long-term issuer credit rating to the Development Corp. of Yangzhou Economic and Technological Development Zone (YETDZ Dev. Corp.) with a stable outlook.

The creditworthiness of the Yangzhou municipal government, the sole owner of YETDZ Dev. Corp., underpins the rating on the company, S&P said.

“We see an extremely high likelihood of extraordinary government support to YETDZ Dev. Corp. if the company faces financial distress,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.