S&P: Far East Horizon notes BBB-, A-2

Standard & Poor's said it assigned its BBB- long-term and A-3 short-term issue ratings to a medium-term notes program of Far East Horizon Ltd. (BBB-/stable/A-3; cnA-/cnA-2).

The agency also assigned its cnA- long-term and cnA-2 short-term Greater China regional scale ratings to the program.

Far East Horizon may issue notes up to a total amount of $1.5 billion under the program, which was launched in May 2013.

The company uses the proceeds to fund its working capital and general corporate needs.

S&P said it equalized the issue ratings with the issuer credit rating on Far East Horizon. The notes will constitute direct, unconditional, and senior unsecured obligations of the issuer. They will rank pari passu among themselves and with all other unsecured and unsubordinated obligations of the issuer.

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