S&P ups CK Infrastructure, Power Assets

S&P said it raised its long-term issuer credit ratings on CK Infrastructure Holdings Ltd. and Power Assets Holdings Ltd. to A from A-.

The outlook is stable.

At the same time, the agency raised the long-term issue rating on outstanding senior unsecured notes guaranteed by CK Infrastructure to A from A-.

S&P also raised the guaranteed hybrid securities' long-term issue rating to BBB+ from BBB.

The agency said it upgraded CK Infrastructure and Power Assets after raising the rating on the parent, CK Hutchison Holdings Ltd. (A/stable/--).

S&P said it equalizes the rating on CK Infrastructure with its parent because it regards the infrastructure and utilities flagship as a core subsidiary of the group.

The rating on Power Assets is capped by that of its immediate parent, CK Infrastructure, the agency said.

© 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.