S&P gives BB to Yankuang notes

S&P said it assigned its BB long-term issuer credit rating to Yankuang Group Co. Ltd. The outlook is stable.

S&P also assigned a BB long-term issue rating to the U.S. dollar senior unsecured notes that Yankuang Group (Cayman) Ltd., a wholly owned subsidiary of Yankuang Group, proposes to issue. Yankuang Group will guarantee the issuance.

“The rating on Yankuang Group reflects the company's b stand-alone credit profile (SACP) and our view of a high likelihood that the government of Shandong province would extend timely and sufficient extraordinary support to the company in case of financial distress,” S&P said in a news release.

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