S&P rates Li & Fung notes A-

Standard & Poor's said it assigned an A- rating to the proposed benchmark-sized issue of dollar-denominated senior unsecured notes by Li & Fung Ltd. The rating is subject to review of final documents.

The potential issue could improve Li & Fung's currently strong liquidity position as the company embarks on further expansion, S&P said.

Despite the company's higher leverage and plans to expand through acquisitions, the agency said it believes the company can maintain its net debt-to-EBITDA ratio at less than the downward rating trigger of 2.2x over the next few years.

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