S&P lifts Hengli notes, rates new notes BBB-

S&P said it raised the long-term issue rating on the senior unsecured notes issued Hengli (Hong Kong) Real Estate Ltd. to BBB- from BB+.

The agency also said it assigned a BBB- long-term issue rating to the proposed new issuance of dollar-denominated senior unsecured notes by Hengli.

S&P also said it affirmed the BBB long-term corporate credit rating on Poly Real Estate Group Co. Ltd. and BBB- long-term corporate credit rating on Hengli.

The outlooks on both companies are stable.

Hengli is a highly strategic subsidiary and an offshore financing platform of Poly Real Estate, the agency said.

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