S&P cuts Far EasTone

S&P said it downgraded Far EasTone Telecommunications Co. Ltd. to BBB- from BBB.

The downgrade reflects S&P’s downward assessment of the company’s parent Far Eastern New Century Corp.

The rating on Far EasTone is capped at one notch above the Far Eastern’s group credit profile. “We continue to assess Far EasTone as an insulated and strategically important subsidiary of the FENC group,” said S&P in a press 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.