S&P affirms Citic Resources

S&P said it affirmed its BB- long-term issuer credit rating on Citic Resources Holdings Ltd.

The outlook is stable.

The agency said it revised its assessment of Citic Resources' liquidity to adequate from less than adequate following the company's successful refinancing of $530 million in bank loans in 2017.

“We affirmed the issuer credit rating on Citic Resources because we expect Citic Resources' leverage to remain high even after factoring in our latest oil price assumptions,” S&P said in a news release.

“We also expect the company to maintain its relatively small scale.”

© 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.