S&P affirms eHi Car Services

S&P said it affirmed its BB-long-term issuer credit rating on eHi Car Services Ltd. and the BB- issue rating on its senior unsecured notes.

“We affirmed the ratings based on our expectation that eHi will face limited near-term refinancing risk and the company will likely maintain good liquidity management amid potential privatization,” the agency said in a news release.

“We expect the company to be able to repay the $200 million senior unsecured notes due Dec. 8, 2018. The company is on track to secure a syndicated loan within the next week, which together with the company's offshore cash, should cover this bullet maturity.”

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