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| Prospect News home > News index > List of issuers C > Headlines for Country Garden Holdings Co. Ltd. > News item |
S&P gives Country Garden convertibles BBB-
Standard & Poor's said it had assigned its BBB- issue rating to an issue of up to RMB 4.314 billion in a 2.5% coupon convertible bond by Country Garden Holdings Co. Ltd. (BBB-/stable).
The agency said that the bond, due 2013, will be settled in dollars and the yield to put or maturity is 6.2%.
The bond is callable on or after Feb. 22, 2011 and putable on Feb. 22, 2011, the agency added.
S&P said that the rating on Country Garden reflects the company's sound financial profile and the benefits of having one of the largest and lowest-cost land banks among all Chinese property developers.
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