S&P rates IFC Development notes A/cnAA+

Standard & Poor's said it assigned an A long-term corporate credit rating to IFC Development Ltd.

The outlook is stable.

S&P also assigned a cnAA+ long-term Greater China regional scale rating to the company.

At the same time, S&P assigned an A rating and cnAA+ Greater China regional scale rating to a proposed issue of senior unsecured notes by IFC Development (Corporate Treasury) Ltd., a special purpose vehicle set up to issue the notes.

IFC will guarantee the notes. IFC will use the proceeds for refinancing of shareholder loans and other general corporate purposes.

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