S&P: Regal Forest notes B+

Standard & Poor's said it assigned a B+ global scale corporate credit rating to Regal Forest Holding Co. Ltd. (Unicomer).

The agency also said it assigned a B+ rating to its proposed long-term senior unsecured notes of up to $300 million.

The outlook is stable.

The ratings reflect the company's significant financial risk profile and fair business risk profile based on expectations that the company will maintain a fair competitive position in the countries it operates, S&P said.

The ratings also consider expectations of a negative free operating cash flow given the company's high working capital needs and expansion program, the agency said.

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