S&P rates MTR notes AA+

S&P said it assigned its AA+ long-term issue rating to a proposed issue of dollar-denominated senior unsecured notes by MTR Corp. Ltd.

“The issue rating is the same as our issuer credit rating on MTRC. We do not apply notching to the issue rating on the senior unsecured notes issued and guaranteed by MTRC because the priority debt ratio is well below our notching threshold of 50%. As of Dec. 31, 2019, MTRC had a total reported debt of HK$39.5 billion, of which HK$1.8 billion is priority debt solely from secured debt at the subsidiary level,” S&P said in a press release.

Proceeds are expected to be used to fund general corporate purposes and refinance debt.

© 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.