S&P rates Beijing Infrastructure notes A-

Standard & Poor’s said it assigned its A- long-term issue rating and cnAA long-term Greater China regional scale rating to a proposed issue of senior unsecured notes by Eastern Creation II Investment Holdings Ltd.

The notes will be issued under the existing US$2 billion medium-term notes program that Beijing Infrastructure Investment (Hong Kong) Ltd. (BIIHK: A/stable/--; cnAA+/--) guarantees.

The rating on BIIHK reflects S&P’s assessment that the company is a highly strategic subsidiary of Beijing Infrastructure Investment Co. Ltd. (BII: A+/stable/--; cnAAA/--), which is the Beijing municipal government’s sole platform for rail transport investment and financing and the major subway operator in the city.

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