S&P rates MIE Holdings notes B+, cnBB

Standard & Poor's said it assigned its B+ long-term issue rating and cnBB long-term Greater China regional scale rating to a proposed issue of U.S. dollar-denominated senior unsecured notes by MIE Holdings Corp.

The company intends to use the proceeds to primarily refinance its 2016 senior unsecured notes and for general corporate purposes.

The rating on the company (B+/stable/--; cnBB/--) reflects the company's "weak" business risk profile and "aggressive" financial risk profile, S&P said in a news release.

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