S&P rates Zhaojin Mining notes BB+

S&P said it assigned its BB+ long-term issuer credit rating to Zhaojin Mining Industry Co. Ltd. (Zhaojin Mining). The outlook is stable.

S&P also assigned a BB+ long-term issue rating to the company's proposed guaranteed senior unsecured notes. Zhaojin Mining International Finance Ltd., a wholly owned subsidiary of Zhaojin Mining, will issue the notes.

“The rating on Zhaojin Mining reflects our expectation that the company will remain a core subsidiary of Shandong Zhaojin Group Co. Ltd. (Zhaojin Group),” S&P said in a news release.

“We believe Zhaojin Mining will receive timely and sufficient support from Zhaojin Group if needed. We therefore equalize the rating on the company with the credit profile of Zhaojin Group.”

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